BREAKING: Gina Rinehart’s Hancock Energy has secured over 50 per cent of takeover target Warrego Energy after Chris Ellison’s Mineral Resources agreed to sell its shares.
against the target’s joint venture partner Strike Energy.
The increase in Hancock’s interest above the 40 per cent mark also confirms the level of the offer at 36¢ per share rather than the 28¢ that applied if its interest in Warrego remained below that level. Securing control of Warrego also means Hancock’s offer is automatically extended by two weeks, and is now due to close on February 24.The takeover battle for Warrego, which owns 50 per cent of the West Erregulla gas field in the Perth Basin, alongside Strike, kicked off in November when Strike proposed a takeover offer that was
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