Thai Bangchak Targets Oz Nido

摘要

Thai refiner Bangchak Petroleum formalized on Tuesday its takeover bid for Australian minnow Nido Petroleum, which offers A5.5￠ for each Nido share, valuing the company at just over A$120 million (US$112 million). The offer is a 70% premium to the three-month volume-weighted average of A3.20￠ for Nido shares to Jul. 22, Bangchak said. The planned acquisition, first announced in late July, is thought to be Bangchak's first upstream foray overseas.