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LONDON (Alliance News) - Mosman Oil & Gas Ltd on Monday said it has extended the closing date for its takeover offer for MEO Australia Ltd to May 8 from March 24.
Mosman said it has received "encouraging" acceptances and communications from a number of smaller MEO shareholders.
Earlier this month, Mosman sent a letter to MEO shareholders recommending they accept the takeover offer, saying that if shareholders reject the deal, they "risk suffering additional losses on their investment in MEO by remaining a shareholder in a stand alone company that has, in recent years, experienced a significant reduction of its market capitalisation and significant diminishment of its cash reserves."
Shares in Mosman were down 0.7% to 7.95 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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