AUSTRALIA

Beach offer undervalues us: Adelaide

ADELAIDE Energy has scoffed at Beach Energy's 20c per share takeover offer, saying it undervalued its assets – an assertion ignored by investors, who flocked to accept the offer.

James McGrath

Adelaide Energy shares surged 42.86% yesterday to match the 20c offer and were steady at 20c this morning. Adelaide said it was engaging an independent expert to provide its opinion on the value of the...

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