PERTH (miningweekly.com) – ASX-listed Melbana Energy has extended the takeover period on its offer for fellow listed Metgasco from November 15 until December 13.
Melbana earlier this year launched an all-scrip conditional takeover offer for Metgasco, under which it offered four of its own shares for every one Metgasco share held.
Metgasco has continually urged shareholders to reject the takeover offer, saying the offer was "wholly inadequate and materially undervalues" shareholding in Metgasco.
Melbana currently holds a 20.78% interest in the company.