SC okays Sona Petroleum’s oilfield buy, notes ‘unfair’ price


You gotta read the full article, you shareholders, to figure out ‘unfair’ to who?

Dateline 2016-02-12, The Star:

Sona Petroleum Bhd has received the Securities Commission’s (SC) conditional approval to acquire the Stag Oilfield offshore Western Australia although the regulator also noted that the purchase price of US$50mil (RM207.8mil) was deemed “not fair” by an independent expert.

The special-purpose acquisition company (SPAC) told Bursa Malaysia that the SC had noted that technical and asset valuation expert Gaffney, Cline and Associates (Consultants) Pte Ltd (GCA), in its valuation report dated Jan 20, considered the purchase price “not fair”.

 

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