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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Roc Oil Company Limited       AU000000ROC4

ROC OIL COMPANY LIMITED

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Australia's Roc Oil Accepts Takeover Bid From Fosun

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08/03/2014 | 09:06pm EDT

SYDNEY--Australia's Roc Oil Ltd. (>> Roc Oil Company Limited) said Monday it agreed to accept a 474.4 million Australian dollar (US$441.5 million) takeover bid from China's Fosun International Ltd. (>> Fosun International Limited), derailing a previous plan to combine with Horizon Oil Ltd. (>> Horizon Oil Ltd).

Roc said the Chinese conglomerate's offer of 69 Australian cents a share represents a 52% premium to the closing price of Roc shares when the Horizon deal was announced in April. It is also at a 9.5% premium to Roc's most recent trade of 63 Australian cents a share.

Write to Ross Kelly at ross.kelly@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FOSUN INTERNATIONAL LIMITED 0.96% 10.54 End-of-day quote.-7.87%
HORIZON OIL LTD 0.00% 0.14 End-of-day quote.40.00%
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Chart ROC OIL COMPANY LIMITED
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Roc Oil Company Limited Technical Analysis Chart | MarketScreener
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Managers
NameTitle
Yuanlin Jiang Chief Executive Officer & Executive Director
Bin Tang Chairman
Lorne Harry Krafchik Chief Financial Officer & Executive Director
Can Wang Non-Executive Director
Zi Ping Yao Non-Executive Director
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