BG Group Upgrades Pure Energy Offer To A$8.00 Per Share

BG Group Tuesday announced it has increased its all-cash takeover offer for Pure Energy to A$8.00 per share, valuing the entire issued share capital of Pure at A$995 million.

BG Group also announces that its offer for Pure is now unconditional and is significantly superior to the revised offer for Pure announced by Arrow Energy on Feb. 11.

BG Group confirms that it has received notification from the Foreign Investment Review Board that there are no objections in terms of the Federal Government's foreign investment policy to the proposal by BG Group to acquire all the issued shares in Pure.

All other conditions have been waived by BG Group, it said.

BG Group's increased offer also provides swift settlement terms, with payment despatched to accepting Pure shareholders on or before five business days after the receipt by BG Group of their acceptance.

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