Queensland Gas Company Ltd an Australian coal seam gas producer, has made a takeover offer worth about A$800 million ($696 million) to smaller rival Sunshine Gas Ltd a source with knowledge of the deal said on Wednesday.
"It is a cash and scrip offer," said the source, who declined to be identified because of commercial sensitivities.
QGC on Wednesday requested a halt in the trading of its shares and said an announcement was likely later in the day.
Source: Reuters
SHG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
