Incremental

The takeover battle for Incremental Petroleum has closed with Texas-based suitor TransAtlantic Petroleum moving to compulsorily acquire the remaining shares.

Shares in Incremental Petroleum have closed up nearly 23 per cent as suitor TransAtlantic Petroleum Corporation sweetens its takeover bid.

Suitor TransAtlantic has revealed a small fraction of Incremental Petroleum shareholders have accepted its takeover offer while its chairman has spent close to $16 million buying shares.

Cooper Energy Ltd has hit back at share price valuations for its takeover target Incremental Petroleum Ltd, claiming it is not "realistic".