Ann: AWE Rejects Non-Binding Conditional Senex Sc, page-5

re: Ann: AWE: AWE Rejects Non-Binding Conditi... I am not certain but I seem to recall a company I had an interest in, buying stock in another, commenting on a Take Over proposal by yet another company, then selling the stock at a profit.

SXY may be positioned to profit if anyone else is considering AWE and makes a higher offer. (IMHO & DYOR)

Any one recall if that was SXY?

PS: Found it myself after typing the above. It is in a Wall Street Journal blog :

Source: October 25, 2012, 2:54

PMhttp://blogs.wsj.com/dealjournalaustralia/2012/10/25/drillsearch-sweetens-acer-energy-offer/

Australia’s Drillsearch EnergyDLS.AU +4.80% has sweetened its takeover bid for Acer Energy, after the target announced it had received a rival approach from an unnamed party.

In what appeared to be a pre-emptive strike, Drillsearch is now offering 28.5 Australian cents cash per Acer share, up from its previous 25.5 cents a share offer, valuing the oil and gas explorer at 132.3 million Australian dollars (US$137.1 million).

Drillsearch, which already owns 20% of Acer, said late Thursday that shareholders including Republic Investment Management and Wecker Family Super Fund have accepted the higher offer.

Upon completion of the acceptances, Drillsearch will own more than 40% of Acer. “We believe the prospect of an alternative offer emerging is now unlikely given these developments,” Drillsearch chairman Jim McKerlie said in a statement.

Acer shares have consistently traded above the value of Drillsearch’s initial offer since it was made public Oct.4. Expectations of a bidding war intensified when Senex EnergySXY.AU +1.32% subsequently took a 6.4% stake in Acer and wouldn’t rule out making a rival bid, saying it’s keeping its options open. Senex last week bumped its holding to 7.6%. Calls to Senex weren’t returned.