Deals
Drillsearch Shareholders Set to Approve Takeover, AFR Reports
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Bloomberg) -- Shareholders of Drillsearch Energy Ltd. look set to approve a A$384 million ($266 million) takeover of the Cooper Basin oil and gas producer in Australia by Beach Energy Ltd. later this month, the Australian Financial Review reported.
Drillsearch Chairman Jim McKerlie told the newspaper that feedback from shareholders set to vote at a Jan. 27 meeting on the friendly merger with Beach was positive, especially in light of the slide in crude oil prices since the deal was struck in October.