Hancock warns Warrego investors on Strike bid
Hancock Energy is arguing its bid for Warrego Energy – which is currently worth less than Strike’s offer – is actually ‘substantially higher’.
Hancock Energy is arguing its bid for Warrego Energy – which is currently worth less than Strike’s offer – is actually ‘substantially higher’.
Strike Energy returns to the takeover battle it started, with a new bid for Warrego Energy it says trumps the offer from Gina Rinehart’s Hancock.
Just two months after the Gina Rinehart sponsorship fell over, Netball Australia has struggled to come up with the money in the high performance budget to send the Diamonds to South Africa.
The iron ore magnate made a splash buying S. Kidman & Co with Chinese partners. But a flurry of property sales has Australia’s other billionaires paying attention.
Gina Rinehart’s Hancock Energy has moved into pole position in the takeover battle for Warrego after Beach Energy declined to match its bid.
Warrego Energy has been the subject of a takeover wrestle but industry experts say the company which previously proposed a merger is the one that’s ripe for the picking.
The move will give Strike a potential blocking stake in any bid to acquire the company, and comes after its own proposal was superseded by a bidding war between two billionaires.
Australia’s richest person, Gina Rinehart, will pump $60 million into Arafura Rare Earths, underlining excitement around its Nolans Project development.
Beach and Warrego shares are surging as shareholders anticipate an escalation of the bidding war for the Perth basin gas explorer.
Gina Rinehart’s Hancock Prospecting has joined the rare earth race, taking a $60m stake in Northern Territory hopeful Arafura.
The fight for control over Warrego Energy took another twist late on Friday when Hancock Prospecting upped its offer to 28c a share.
ASX ends the week up despite Friday’s loss. Hancock trumps Beach’s revised Warrego bid, Santos loses Barossa appeal, Coronado falls on weather hit and Premier’s record Black Friday.
Hancock Energy is the new leader in the battle for control of Warrego Energy, but it will stay interesting with Beach having five days to return fire, and Strike’s bid briefly ahead on value.
As holiday rentals go, The House on Lizard Island is as private as you can get while still enjoying the amenities of a five-star resort.
Warrego Energy shares have rocketed after Gina Rinehart’s Hancock Energy lobbed yet another takeover bid at the company.
Gina Rinehart’s mining giant has delivered the second largest financial result in its history, producing a bumper $5.8bn net profit.
The mining magnate has recorded another huge result at her crown jewel, but commodity prices means the iron ore operation could not match last year’s record revenues.
Gina Rinehart has raked in her first millions from Atlas Iron, the $427m acquisition she won in a big-name battle in 2018.
The charm offensive in the West comes as miners and the Minerals Council of Australia launch into a PR assault in Canberra to scuttle the Albanese Government’s labour relations law changes.
An ABC radio presenter made several comments on air about billionaire mining magnate Gina Rinehart and her father Lang Hancock that were incorrect.
Original URL: https://www.theaustralian.com.au/topics/gina-rinehart/page/10