AUSTRALIA

Buru gives green light to takeover offer

JUNIOR explorer Buru Energy has agreed to a takeover proposal from private company Arenite that could lead to the company giving up its onshore Canning Basin permits.

Buru said the offer of 25c per Buru share and 2.5c per Buru option gave its shareholders and option holders a premium of 32% and 79% respectively over the 30-day and three-month volume-weighted average...

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