Armour board backflips on new offer

ARMOUR Energy's Nick Mather and his fellow directors have decided to take the money and run, accepting the revised takeover offer of 20 cents per share from Chinese-backed WestSide Corporation, which now values the company at more than $61 million.

Armour board backflips on new offer Armour board backflips on new offer Armour board backflips on new offer Armour board backflips on new offer Armour board backflips on new offer

Last night Mather and the board agreed to accept the revised bid, which implies that major shareholder DGR Global, which is chaired by Mather, will vend its stake into the sale, putting WestSide

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