Nothing but negotiation

The Gap Partnership

Eureka Energy board recommends Aurora takeover

Eureka Energy's board has recommended a takeover proposal from Aurora Oil & Gas.

13 June 2012

Eureka Energy's board of directors has recommended shareholders accept a takeover offer made by Aurora Oil & Gas, despite believing the bid undervalues the company.

Aurora submitted an offer price of $0.45 (£0.28) per share to take control of Eureka shares and was adamant that this was a final offer that could not be increased through negotiations by merger and acquisition advisors from the two parties.

Eureka's board said that while it unanimously believes the company is undervalued, shareholders should accept the proposal because failing to do so could have an adverse affect on Eureka's share price after the offer period ends.

It also noted Aurora already holds a "substantial" 33 per cent of Eureka thanks to the level of acceptances of the offer and said there could be "potential implications" of Aurora acquiring a minority ownership of the firm.

Eureka had previously been the subject of a merger proposal from Lonestar Resources, but a breakdown in negotiations resulted in Lonestar withdrawing its purchase proposal.

Posted by David Gleck

Source: Eureka Energy press release, June 13th

Gap News

March 2014

The Negotiation Roadshow 2014

Generating value through creative negotiation

Read more

July 2013

Trading Global: Negotiating in the Far East

The Gap Partnership are hosting a complimentary Lunch & Learn seminar in association with UK Trade & Investment

Read more

April 2013

GroceryAid Negotiation Event Raises £26,550

The Gap Partnership, in conjunction with Asda, SC Johnson and Waitrose, host one-day negotiation workshop

Read more

February 2013

Trading Global - Negotiating in the Far East

What is the impact of cultural differences on your negotiations?

Read more

December 2012

The Gap Partnership Release New Negotiation Video

The Nothing but Negotiation video series continues with collaborative negotiation

Read more