Shareholders in Anzon Australia's parent company, Anzon Energy Ltd, have voted overwhelmingly in favour of the proposed Arc Energy and Anzon Australia merger.
An independent expert's report by Deloitte Corporate Finance has concluded that Arc Australia Ltd's proposed acquisition of Anzon Australia Ltd is fair and reasonable.
ARC Energy is standing by its plan to pursue a $1.1 billion merger with Anzon Australia Ltd despite attempts by one of its biggest shareholders, Clive Palmer's Mineralogy Pty Ltd, to oust the current board and scrap the merger.
Oil and gas producers ARC Energy Ltd and Anzon Australia Ltd have announced they are negotiating the final terms of a merger that would create a $1.1 billion energy group.
Victoria-based oil and gas explorer Nexus Energy Ltd has acquired a 10.9 per cent stake of Sydney rival Anzon Australia Ltd via on-market purchases and an off-market exchange.
Woodside Petroleum Ltd, through its subsidiary Woodside Eastern Energy, has lodged a claim against fellow oil and gas player Anzon Australia Ltd alleging Anzon's termination of an agreement between the two was wrongful.
Western Australian-based oil and gas player Nexus Energy Ltd and Anzon Australia Ltd are engaged in a takeover tussle, as Anzon attempts to take control of Nexus.
21 Apr 2006
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