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Horizon Oil Limited ( (AU:HZN) ) has provided an announcement.
Horizon Oil has confirmed that a key pricing condition in its off-market takeover bid for Cue Energy Resources has been fulfilled, freeing the offer from its minimum bid price requirement. The notice, lodged with Cue and the ASX, means the takeover offer and any resulting contracts are no longer subject to that condition, marking a procedural milestone in Horizon’s attempt to acquire all remaining Cue shares it does not already control.
The removal of the minimum bid price condition reduces uncertainty around the bid’s terms and signals Horizon’s intention to proceed with the acquisition under the existing offer structure. This development may influence Cue shareholders’ assessment of the offer’s certainty and could accelerate the transaction’s progress within Australia’s regulated takeover framework.
The most recent analyst rating on (AU:HZN) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Horizon Oil Limited stock, see the AU:HZN Stock Forecast page.
More about Horizon Oil Limited
Horizon Oil Limited is an Australia-listed energy company focused on oil and gas exploration and production. The company participates in upstream petroleum assets and seeks growth through strategic acquisitions in the sector, including interests in other ASX-listed exploration and production businesses such as Cue Energy Resources.
Average Trading Volume: 2,457,814
Technical Sentiment Signal: Buy
Current Market Cap: A$439.4M
Find detailed analytics on HZN stock on TipRanks’ Stock Analysis page.