Gina Rinehart’s Hancock Energy has won majority control of Warrego Energy, marking a milestone in the drawn-out takeover battle for the West Australian gas producer against the target’s joint venture partner Strike Energy.
A move by Chris Ellison’s Mineral Resources to sell its shares into Hancock’s 36¢-a-share offer has taken Hancock’s interest in Warrego to 50.54 per cent, the private firm owned by Ms Rinehart’s Hancock Prospecting said on Monday.
Hancock wins WGO, page-2
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