MARKETS

Melbana forgives Metgasco for breach of agreement, moves ahead on takeover

MELBANA has launched a binding intention to make a takeover bid for Metgasco and decided to move past the target’s breach of takeover conditions when it paid well costs to its Gulf of Mexico joint venture partner Byron Energy.

Melbana forgives Metgasco for breach of agreement, moves ahead on takeover

Melbana, which has interests in Cuba and the large Beehive prospect offshore Western Australia, first made the offer for the entire shares of the company 11 days ago. Its offer is now unconditional...

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