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AUSTRALIA

Ambassador leaves it up to the shareholders

THE BOARD of Ambassador Oil and Gas has taken a seat on the fence over its recommendations to shareholders on takeover bids received from Drillsearch and Magnum Hunter Resources.

Andrew Snelling
Ambassador leaves it up to the shareholders

While the MHR implied bid of 37.4c per Ambassador share represents a premium of 91.55% compared with Drillsearch's premium of 68.57%, the board acknowledged that investing in the New York stock exchange...

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