One major holder holding 6% of AQO has given notice to AQO that they have accepted Drillseach takeover offer. That takes DLS holding to 90% which will enable Drillsearch to close the offer and proceed to compulsory acquire the remaining AQO shareholders. There has been no word about how many accepted Magnum Hunter's offer. I cannot recall of an American company ever losing out on a takeover offer in OZ on grounds of price too high.
AQO Price at posting:
31.5¢ Sentiment: None Disclosure: Held
DLS Price at posting:
$1.44 Sentiment: Buy Disclosure: Held