The necessary merger documentation is being filed with relevant authorities in the United States for Tipperary to be delisted and become a wholly owned subsidiary of Santos.
This approval follows Santos’ announcement of the proposed acquisition on July 1, in addition to its decision several days later to fast track the acquisition of Slough Estate USA Inc’s controlling interest in Tipperary.
Under the terms of the merger, Tipperary shareholders will receive US$7.43 per share in cash.
The acquisition gives Santos about 75% operated working interest in the Fairview coalbed methane field, north of Roma in Queensland, together with over 4,000 square kilometres of additional exploration acreage in the Comet Ridge area of the Bowen Basin.
