Tap Oil has sent out its bidder statement to Arc shareholders for its offer of one Tap share for ...
Tap said its offer represents a substantial premium of 34 per cent to Arc's closing price on the day before the offer was announced and 72% to the three-month volume-weighted average price prior to the offer announcement.
Tap added its offer "appropriately" values Arc by recognising Arc's recent discoveries and risked upside potential.
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