dls up offer to 28.5c, page-11

yep agreed.
This is revised not alternative.
really i think DLS will just hope to get a few more uneducated holders out at a more attractive price and grab as much as possible, therefore scuttling others (i.e NHC) plans.
SXY are smart people, but not share traders...their 7.6% owes them ~27-28c...they aren't buying at those levels to sell at 28.5..

FROM AFR ONLINE:
Senex Energy is thought to be involved in the rival takeover proposal for Cooper Basin explorer Acer Energy, expected to be revealed this afternoon.

Acer, which is subject to a $118 million cash offer from Drillsearch Energy, halted its shares from trading on Thursday morning pending an announcement on “a potential alternative proposal” to be the Drillsearch bid.

Since Drillsearch’s 25.5¢-per-share offer was announced, Senex, which is also focused on the cooper Basin, has built up a 7.6 per cent stake in Acer, putting it in the spotlight for a potential rival offer. However some others have also been touted as potential suitors for Acer, including Cooper Energy, Beach Energy and Santos.

A complicating factor is that Drillsearch is already Acer’s largest shareholder, with 19.9 per cent, while its second-biggest holder, Republic Investment Management, has said it intends to accept Drillsearch’s offer in the absence of a higher bid.

Drillsearch, which has been acquiring Acer shares on the market, is being advised by Wilson HTM, while Bizzell Capital Partners and Miro Advisors is advising Acer.

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