This from the Australian:"Bidding Ware Erupts for Acer...

This from the Australian:

"Bidding Ware Erupts for Acer Energy

ACER Energy said today it has received a rival takeover proposal to an $118 million bid by Drillsearch Energy.
Acer, which has placed its shares in a trading halt, didn't name the rival bidder.

But it comes just days after Senex Energy bumped up its holding in the Australian oil and gas company to 7.6 per cent.

"The trading halt is required as Acer Energy expects to make an announcement in relation to a potential alternative proposal to the Drillsearch offer," Acer said in a statement.

Senex bought Acer shares on the market earlier this month to take a 6.4 per cent stake and wouldn't rule out making a rival bid, saying it's keeping its options open. Senex increased its holding to 7.6 per cent last Friday.

Calls to Senex and Drillsearch weren't immediately returned today. "


Bring it on!