In today’s briefing:
- Wesfarmer’s Non-Binding Offer For Silk
- Armour Energy Limited – Revisiting the Gas Growth Story
Wesfarmer’s Non-Binding Offer For Silk
- Wesfarmers Ltd (WES AU) has made a non-binding indicative Offer, by way of a Scheme, for Silk Laser Australia (SLA AU), an operator of specialist clinic networks across Australia.
- The Offer Price of $3.15/share is a decent 30.2% premium to last close. Wilson Asset Management, with 9.3% of shares out, is supportive.
- Wesfarmers has been granted 30 days to undertake due diligence on an exclusive basis.
Armour Energy Limited – Revisiting the Gas Growth Story
- Armour Energy Limited (AJQ.ASX) is a junior energy producer and explorer with assets across northern, southern and eastern Australia.
- The company has been listed on the ASX since April 2012 and is set to pursue a growth strategy with particular focus on production optimisation at Kincora to be delivered over the next 24-30 months.
- Importantly, we should also see a return to high-impact exploration with the drilling of the Enterprise North-1 well in the Otway Basin subject to regulatory approvals.
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