Beach Agrees to Buy Drillsearch for A$384 Million

Corrected
  • Drillsearch shares surge 26%, most in almost six years
  • Shareholders offered 1.25 Beach shares for each held in bid

Beach Energy Ltd. agreed to pay A$384 million ($277 million) in stock to acquire Drillsearch Energy Ltd. to increase its exposure to energy assets in Australia’s Cooper Basin.

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