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Horizon Oil Limited ( (AU:HZN) ) has shared an announcement.
Horizon Oil Limited has moved a step closer to completing its off-market takeover of Cue Energy Resources, after confirming that the minimum acceptance condition attached to its offer has been satisfied. The company advised that its bid for all Cue shares it does not already control, and any contracts arising from acceptances, are now free of that key condition, clearing an important regulatory hurdle in the contested transaction.
The fulfilment of the minimum acceptance condition strengthens Horizon’s position in its pursuit of Cue, enhancing the likelihood that the acquisition will proceed to completion. The development provides greater certainty for Cue shareholders who have accepted or are considering the offer, and underscores Horizon’s strategy of expanding its portfolio and influence in the oil and gas sector through targeted corporate activity.
More about Horizon Oil Limited
Horizon Oil Limited is an Australia-based energy company listed on the ASX that focuses on the exploration and production of oil and gas. It operates in the upstream segment of the petroleum industry, seeking to grow its reserves and production profile through asset development and strategic acquisitions in regional markets.
Average Trading Volume: 3,171,238
Technical Sentiment Signal: Buy
Current Market Cap: A$406.9M
Find detailed analytics on HZN stock on TipRanks’ Stock Analysis page.