CSG

Eastern launches bid to acquire Galilee Energy

EASTERN Corporation is looking to simplify the ownership structure of its coal seam gas assets through an all-share offer to acquire all the remaining shares of 68%-owned Galilee Energy.

Marija Stojkovic

Under the offer for the unlisted public company, Eastern will offer Galilee shareholders one Eastern share for every nine Galilee shares, which values Galilee at 3.1c based on Eastern's closing price of...

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