About 15 per cent of Warrego Energy’s shares changed hands at 35¢ a pop this afternoon in a special crossing, with fingers pointing to Chris Ellison’s Mineral Resources as the buyer.
Sources said Regal Funds Management, which owns 9.82 per cent of Warrego and has previously vouched support for Strike Energy’s one-for-one scrip bid, was understood to have sold at least some of its shares in this afternoon’s trade.Should MinRes play its stake into a bid for Warrego, it would be competing against Strike’s scrip bid and Hancock Prospecting’s 28c-a-share takeover offer.
On Friday evening, Gina Rinehart’s Hancock owned 25 per cent of Warrego, 20 per cent was with Strike.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ellison says MinRes takeover offer for Norwest is “no brainer”Chris Ellison’s Mineral Resources is talking up its takeover bid for Norwest Energy as Gina Rinehart continues to slug it out with Strike Energy in the battle for Warrego.
Read more »
Three leaders hold the fate of 2023 in their hands — and the world is watchingPredicting outcomes of the Ukraine war is nearly impossible. However, five variables are likely to have a significant impact on the course of the conflict in 2023, writes Mick Ryan.
Read more »
Quiet quitting, the gender pay gap: Was 2022 a tipping point for workers?What did we want from work over the past 12 months? Overwhelmingly, greater flexibility and fulfillment.
Read more »
Arsenal eye 10-point lead but Mikel Arteta expects ‘big test’ from NewcastleMikel Arteta has said he believes third-placed Newcastle will present “a big test” for his Premier League leaders on Tuesday night
Read more »
Silly point or square leg: how well do you know your way around a cricket field?Do you know fine leg from third man? Test your knowledge of cricket fielding positions with this interactive quiz
Read more »
There's a game of political chicken playing out within the Republican Party, and it's pure chaosThe man who has openly coveted the influential job of Speaker of the House for much of his career has been humiliated at the hands of hardline conservatives within his own party, write Jade Macmillan and Joanna Robin.
Read more »