Australia's FAR eyes best day in over 6 mths on $31.5 mln takeover bid

FAR

31/01/2022 02:33

** Shares of FAR Ltd  FAR.AX  rise as much as 27.4% to
A$0.465, their biggest intraday pct gain since July 23 
    ** The oil and gas explorer gets a takeover bid from Samuel
Terry Asset Management Pty Ltd at A$0.45 cash per share, valuing
the company at A$44.9 mln ($31.47 mln)  urn:newsml:reuters.com:*:nASX2SdMMS
    ** Says it will consider the offer and will advise
shareholders of its recommendation in due course
    ** Adds the takeover bid recognises that co's shares are
undervalued
    ** Stock at its highest since Dec 23, set for its third
straight session of gains
    ** About 908,549 shares change hands, vs the 30-day avg
volume of 676,642
    ** Stock has fallen 5.2% this year, as of last close

($1 = 1.4265 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))