FYI - Key words larger rival ( roc is not a larger rival even though it is mentioned.
STAFF REPORTER 45 MIN AGO DATAROOM MERGERS & ACQUISITIONS INDUSTRIES RESOURCES AND ENERGY ASX-listed Horizon Oil has entered a trading halt, pending the release of an announcement about a potential material control transaction that the company is still considering.
Earlier, The Australian Financial Review reported that the oil and gas junior was weighing a takeover approach from a larger rival, with Santos, Roc Oil and AWE named as possible buyers.
Horizon, currently trading with a market capitalisation of $436 million, was believed to be in discussions and could announce a deal as early as this week, the AFR said.
Horizon shares are expected to remain in trading halt until the start of trade on April 29 or when the announcement is released.
Stock in Horizon jumped over 10 per cent yesterday despite the company releasing no statements to
ROC Price at posting:
45.5¢ Sentiment: LT Buy Disclosure: Held
