Macquarie has reportedly renewed its bid for Central Petroleum today.
Reuters noted that Central’s shares were halted as Macquarie prepares to rebid for 100% of the company.
The Australian Financial Review has noted that after the rejection of its $75m offer, Macquarie was expected to make a higher bid in the next couple of days.
- Macquarie expected to renew its offer for Central petroleum
- Macquarie already holds interests with Central Petroleum, including a gas sales agreement and is also its financier
- Central Petroleum’s interests in undeveloped gas in the East Coast is noted to be the key attribute behind Macquarie’s interest