Senex Energy Shares Little Changed After AGL Takeover Report
Senex Energy Ltd. (SXY), a shale-gas and oil explorer in Australia, closed little changed in Sydney trading after a newspaper report said AGL Energy Ltd. (AGK) may be considering a bid for the company.
Senex increased as much as 5.9 percent to 90 Australian cents, the highest price since March 2000, after advancing 10 percent yesterday. The stock closed today at 84 Australian cents, 1.2 percent lower. The benchmark S&P/ASX 200 Index was 1.7 percent higher and AGL Energy gained 0.7 percent to A$14.71.
Total SA (FP), BG Group Plc (BG/) and Arrow Energy Ltd., owned by Royal Dutch Shell Plc, may also be looking at the company, the Australian Financial Review said in its Street Talk column, without saying where it got the information. Ian Davies, managing director of Brisbane-based Senex, said last year the explorer had initial talks with international energy producers interested in a potential partnership.
Davies declined to comment on the newspaper report when reached by telephone today. AGL doesn’t comment on speculation, Nathan Vass, a Sydney-based spokesman for the company, said in an e-mail.
To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net
To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net
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