Australia's Talon Energy rises on buyout deal with Strike

Talon Energy

14/08/2023 01:59

** Shares of Australia's Talon Energy  TPD.AX  rise as much
as 14.3% to A$0.2, hitting their highest since Nov 18, 2022
    ** Co says Strike Energy  STX.AX  will acquire all the
issued shares in Talon 
    ** Talon shareholders will receive 0.4828 new Strike shares
for each share held 
    ** Consideration implies A$0.212 per Talon share for its
Perth Basin assets, representing 21.4% premium to Friday's close
    ** Talon will also explore options to spin out its 33%
interest in the Gurvantes Mongolian project
    ** Strike shares down as much as 3.4%

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))