Warrego Energy eyes best week since early-Dec as takeover bids intensify

STX

06/01/2023 04:22

** Shares of Australia's Warrego Energy Ltd  WGO.AX  up
~22.6% this week, set for its biggest weekly jump since
early-December
    ** WGO gains as much as 1.3% to A$0.385 on Friday
    ** The oil and gas explorer is at the centre of a number of
buyout bids, including from Strike Energy  STX.AX , billionaire
Gina Rinehart's Hancock Energy and Beach Energy  BPT.AX 
    ** On Friday, STX said its takeover offer for WGO is at a
premium to Hancock Energy's sweetened bid
    ** STX's bid of A$0.375 per share, based on its closing
share price on Jan. 5, values WGO at ~A$459 mln ($310.24 mln)
    ** STX's bid came a day after Hancock Energy raised its
offer to A$0.36 per share
    ** WGO rose 22.6% in 2022 
($1 = 1.4784 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))