Armour Energy rejects Westside's takeover bid

Australia’s Armour Energy Ltd. has released its target’s statement in response to WestSide Corp. Ltd.’s conditional takeover offer of $0.0861 (AUD 0.12) per share. The target’s statement recommends that Armour shareholders reject WestSide’s current inadequate offer.

Armour directors advised that the independent expert’s report (IER) has concluded that the offer is not fair and not reasonable, with a valuation for Armour in the range of $0.158 (AUD 0.22) to $0.2657 (AUD 0.37) per share. The IER was prepared by BDO Corporate Finance (Qld) Ltd.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...