NORTH AMERICA

Amadeus consolidates in US

AMADEUS Energy has pulled the trigger on a deal to acquire Lonestar Resources from a UK-based company with an all-scrip bid which will see an initial 460 million new shares issued, worth about $108 million based on Lonestar's last closing price.

James McGrath

The deal is also worth roughly twice Amadeus' current market capitalisation of $51 million at 21.5c. It said the acquisition would create a leading mid-cap with a raft of onshore conventional and non-conventional...

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