Oz Melbana Terminates Takeover bid for Metgasco

Melbana Energy February 5 said that offers made under the off-market takeover bid made for all of the ordinary shares in Metgasco closed on January 31.

Melbana said it has received acceptances under the offers in respect of 27.81% of the ordinary shares in Metgasco. The company said it expects that its shares to be issued to those Metgasco shareholders who accepted the offer will be issued in accordance with the terms of the offer on or before February 14.

Sydney-listed Metgasco in July last year received an unsolicited conditional takeover offer from fellow Australian explorer Melbana Energy.