Mosman Oil and Gas has failed in an attempt to take over MEO Australia, as its offer, which was not recommended by the MEO Board, expired on June 12th 2015.
According to the target company, an independent ASX-listed oil and gas explorer, as of June 5th 2015, Mosman had received acceptances for only 2.047% of MEO shares.
“The MEO Directors appreciate the support of the vast majority of MEO shareholders who rejected the Mosman offer. MEO will continue to focus on progressing its projects, business development opportunities and corporate initiatives with a view to realising the considerable upside that exists in the MEO portfolio,” the directors said in a statement.