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BG scoops up Pure Energy
March 24, 2009

Britain's BG Group has secured coal seam gas explorer Pure Energy Resources in a $1.02 billion takeover bid after the target's second largest shareholder and former rival bidder agreed to the offer.

Arrow Energy, which has a 20.31% stake in Pure Energy, accepted the $8.25 cash per share offer after dropping its own cash and scrip takeover bid for the Queensland-based coal seam play last week.

$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer$8.25 cash per share offer

*smile*