11th Sep 2014 11:29
LONDON (Alliance News) - Mosman Oil & Gas Ltd said it has secured 51.9% acceptances for its takeover offer from Trident Energy Ltd shareholders as of Thursday.
The deal remains conditional on Mosman securing acceptances from shareholders representing 90% of the issued share capital of Trident.
Mosman said on Friday its offer had secured the unanimous recommendation of Trident's directors.
Mosman launched its offer to acquire all of the shares of Trident in July, offering one Mosman share for every five Trident shares.
Trident is an unlisted Australian company with onshore and offshore oil interests in Australia.
Mosman shares were down 0.2% to 23.80 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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