Cue Energy Rejects Horizon's Takeover Offer
Key points
- Cue's Independent Board Committee recommends shareholders reject the offer
- Offer consideration declared 'best and final' with no increase
- Horizon has secured acceptances for only 2.4% of Cue Shares
- Cue remains well-capitalized with no debt and an unaudited cash balance of A$16 million
- Offer is scheduled to close on 19 June 2026
Full summary
Cue Energy Resources Ltd. has issued a Second Supplementary Target's Statement, urging shareholders to reject Horizon Oil Limited's off-market takeover bid. The Independent Board Committee continues to recommend rejection due to the unchanged offer consideration and limited acceptances of only 2.4% of Cue Shares. Horizon has not yet declared the offer unconditional and Cue remains financially stable with no debt and an unaudited cash balance of A$16 million. The offer is set to close on 19 June 2026.
Guidance
Cue Energy Resources Ltd. remains well-capitalized with an unaudited cash balance of A$16 million as of 30 May 2026.
Outlook
Cue Energy Resources Ltd. continues to recommend shareholders reject Horizon Oil Limited's takeover offer.
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