ASX Best Shares Eastern Star Gas (ESG)

ASX Best Shares Eastern Star Gas (ESG)|ASX ESG Stocks NewsEastern Star Gas (ASX:ESG) is focused on the exploration and development of coal seam gas (CSG) in Northern NSW for the Eastern Australian and potentially international LNG markets.

On 18 July, ESG accepted a $730 million takeover offer from Santos (STO).

The all-share offer values ESG at 90 cents, which represents a 51% premium to ESG’s closing price on Friday.

As part of the deal, STO has also agreed to sell a 20% interest in ESG’s Gunnedah permits to TRUenergy for $284 million.

ESG shares flew 41.2% on the day, making one of the best performers on the Australian share market.

Click for FREE Trading Advice.