PERTH (miningweekly.com) – Suitor Strike Energy on Friday confirmed it would not be increasing its current offer for takeover target Warrego Energy, with the company’s voting power now standing at 24.91%.
The ASX-listed Strike is offering one new share for each Warrego share held.
This compares to a takeover offer from Hancock Energy, which is offering 28c a share in cash for Warrego shares, which would increase to 36c a share if the Gina Rinehart-led company achieves a minimum 40% acceptance of its offer.
In its sixth supplementary bidder’s statement, released on Friday, Strike insisted that its offer continued to represent the best value for Warrego shareholders, implying a premium of 34.9% to Hancock’s 28c-a-share offer, and a 4.9% premium to that company’s increased offer.
Hancock currently holds a 26.42% stake in Warrego, and its offer is set to close on February 10.
Strike’s offer for Warrego is set to close on February 13.