Take over or merger by more than one party??REVIEW OF STRATEGIC...

Take over or merger by more than one party??

REVIEW OF STRATEGIC OPTIONS
Sydney Gas Ltd announces that its Board of Directors has today appointed advisers to assist in a review of operational strategy and other strategic options, with an emphasis on maximising the value of the Company for the benefit of all shareholders.
The review will consider both operational and corporate strategies.
It follows the receipt by the Company of preliminary proposals from different parties to accelerate the exploration and development of its coal seam gas resources and/or to merge with another group.
The Directors have appointed Babc ock & Brown Australia Pty Ltd and PricewaterhouseCoopers Securities Ltd to advise them on the strategic review.
In making this announcement, the Directors emphasise that there is no assurance that this process will result in a transaction or new development arrangements. Sydney Gas does not intend to disclose anything further regarding the process until after the Board has completed its review which may take some months.
Sydney Gas will continue with its business as usual during the review process.

The key is in the quote below

"It follows the receipt by the Company of preliminary proposals from different parties to accelerate the exploration and development of its coal seam gas resources and/or to merge with another group."

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