Beach Makes Bid for Minnow

摘要

Australia's Beach Energy has an- nounced a $97.4 million takeover bid for minnow Adelaide Energy, making an un- conditional offer of A$0.20 (US$0.21) per share in the smaller company. Beach already owns a 19.95% stake in Adelaide — which it bought in August via a $12.6 million investment (IOD Aug.16'11) — but by end of trading on Monday, its interest has risen to 44.23% after some Adelaide shareholders accept- ed the offer.