Oz Beach in Control of Minnow

摘要

Australian mid-cap Beach Energy had acquired more than 50% of Adelaide Ener- gy's shares by Thursday after its takeover bid on Monday, giving it majority control of the company, Beach said in a statement (IOD Nov.8'11). The company believes it is unlikely that an alternative bid will emerge and is encouraging remaining shareholders to accept its A20￠ per share offer, which is at a 51.5% premium to the one-month and three-month volume weighted average price of Adelaide shares before trading halted on Nov. 4.