Echelon Resources Undertakes Not to Accept Horizon Oil's Bid for Cue Energy
Key points
- Echelon Resources has given an undertaking to the Takeovers Panel
- Echelon will not accept Horizon Oil's takeover bid for Cue Energy before April 13, 2026
- The undertaking excludes Cue shares subject to a pre-bid agreement between Echelon and Horizon
Full summary
Echelon Resources Limited has given an undertaking to the Takeovers Panel not to accept the off-market takeover bid made by Horizon Oil Limited for all of the ordinary shares in Cue Energy Resources Limited in which Horizon does not have an interest, in respect of any Cue shares held or controlled by Echelon (other than those the subject of the pre-bid agreement between Echelon and Horizon dated 2 March 2026), before Monday, 13 April 2026. This undertaking is in relation to the application dated 30 March 2026 by Cue Energy Resources Limited. The Panel has accepted this undertaking from Echelon Resources Limited.
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