Eastern Star, Oil Search Shares Jump on Arrow Takeover Offer - BusinessWeek

By
Viraj
on March 8, 2010 1:11 PM | | TrackBacks (0)
March 8 (Bloomberg) -- Eastern Star Gas Ltd. and Oil Search Ltd. soared in Sydney trading after rival Arrow Energy Ltd. said it had become a takeover target.

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Royal Dutch Sell Plc and PetroChina Co. made an offer worth more than A$3.3 billion ($3 billion) to acquire Arrow, the holder of Australia’s biggest coal-seam gas acreage, triggering a record 46 percent surge in its share price. Eastern Star, a coal-seam gas developer in New South Wales, climbed 13 percent to close at 81 Australian cents.

Full Story: Eastern Star, Oil Search Shares Jump on Arrow Takeover Offer - BusinessWeek

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This page contains a single entry by Viraj published on March 8, 2010 1:11 PM.

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