Australian Nexus in administration after bid nix

摘要

Sydney—Troubled Australian oil and gas company Nexus Energy has been placed in administration after its shareholders voted resoundingly against a A$26.6 million ($25 million) takeover offer from Perth-based media company Seven Group Holdings. Three partners from independent restructuring and corporate advisory company McGrathNicol were appointed late Thursday as administrators of Nexus after the takeover failed to gain the support of a majority of shareholders and at least 75% of the votes cast. The resolution was defeated by 527 million votes to just under 392 million.