Magellan gets a suitor

THE chatter has seemingly been vindicated, with Magellan Petroleum in a trading halt on the Australian Securities Exchange after it received an unsolicited takeover offer from Stratex Oil & Gas Holdings.

Magellan gets a suitor Magellan gets a suitor Magellan gets a suitor Magellan gets a suitor Magellan gets a suitor

Earlier this week it told the market it had received a letter from Stratex with a takeover offer at $US2.30 ($A2.22) per share, an offer which effectively values Magellan at $124 million.

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