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Queensland Gas agrees to $830m merger
20-August-08
Written by AAP
Coal seam gas producer Queensland Gas Company Ltd has agreed to an $830 million merger with Sunshine Gas Ltd, the proponent of a rival liquefied natural gas development.
QGC, which has teamed up with BG Group Plc to develop an $8 billion LNG plant at Gladstone in QLD, has offered two alternatives to Sunshine Gas shareholders - an all-scrip offer or a mixture of cash and scrip.
Sunshine Gas shareholders have the option of accepting $1.65 in cash plus two QGC shares, or five QGC shares for every eight Sunshine Gas shares.
Article continues...
20-August-08
Written by AAP
Coal seam gas producer Queensland Gas Company Ltd has agreed to an $830 million merger with Sunshine Gas Ltd, the proponent of a rival liquefied natural gas development.
QGC, which has teamed up with BG Group Plc to develop an $8 billion LNG plant at Gladstone in QLD, has offered two alternatives to Sunshine Gas shareholders - an all-scrip offer or a mixture of cash and scrip.
Sunshine Gas shareholders have the option of accepting $1.65 in cash plus two QGC shares, or five QGC shares for every eight Sunshine Gas shares.
Article continues...
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