PE Firms Lob $138M Takeover Bid For Offshore Energy Giant

Law360, New York (September 6, 2013, 6:12 PM EDT) -- Two private equity firms on Friday offered to buy remaining shares in Singapore offshore energy industry company Miclyn Express Offshore Ltd. (MEO) for roughly AU$150 million ($138 million), an offer that follows fears that a takeover by the majority owners could shortchange minority shareholders. 

Australia's CHAMP Marlin Holdings and India-based SEA6 Ltd. have offered to purchase the remaining 24.8 percent interest in Miclyn at $2.20 per share, nearly a 13 percent premium on Thursday's closing price, the company said on Friday. The bid is conditional, and...
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