COMMENT:

Although the bid price has been increased, the takeover offer for New Zealand Oil & Gas (NZOG) by O.G. Oil & Gas (Singapore) (OGOG) raises serious questions about our takeover laws, particularly the quality and recommendations of independent adviser reports.

The NZOG process demonstrates that our procedures make it relatively easy for offshore entities to fully acquire our listed companies, particularly if share prices are depressed and target company directors take a submissive attitude towards offers.

READ MORE:
NZ Oil & Gas urges shareholders to accept takeover proposal
NZOG posts $2.9m loss despite Kupe, Maari performance
Brian

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