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CO2 Group launches bid for Oil Mallee Co

23-July-08 by Rebecca Lawson

Perth-based CO2 Group Ltd has launched a cash takeover offer for private mallee eucalyptus planting firm The Oil Mallee Company of Australia Ltd in a bid worth up to $700,000.

CO2, through its wholly owned subsidiary Australian Carbon Sinks Ltd, is offering 32.5 cents for each OMC share, which represents a premium of about 63 per cent to the issue price of OMC shares in its last capital raising carried out last year.

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