Macquarie Renews Its Bid for Central Petroleum

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.

Key Attributes;

  • 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

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    pic via Simply Wallst

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