Australia M&A - Strike Energy to acquire Talon Energy

(Originally posted August 14, 2023)

On Monday, Strike Energy announcing that they have agreed to acquire Talon Energy. The companies have entered into a binding Scheme Implementation Deed under which Strike will acquire all the issued shares in Talon by way of a Scheme of Arrangement. From my calculations based on current market price, this values the deal at about AU$ 120 million (~US $78 million) plus whatever value is gained from the spin-out of Talon's Mongolia business. The deal is expected to be implemented and effective from December 2023.