The Australian speculates that Seven Group Holdings executive Don Voelte is behind a low-ball bid for gas-producer Nexus Energy

The Australian speculates that Seven Group Holdings executive Don Voelte is behind a low-ball bid for gas-producer Nexus Energy. Voelte stepped down as Chairman of Nexus only one month ago citing a conflict of interest. The deal, if it passes muster with the Nexus bondholders Seven would need to buy out, would see shareholders that Mr Voelte previously represented receive just a third of the 5.9c per share value their stock last traded at. Involvement of the Kerry Stokes-run Seven finally sheds light on the controversial February move by Mr Voelte to abruptly step down as Nexus chairman. In the absence of a bid it's possible that Nexus would be facing administration as early as next week. (Paywall content) (VIEW LINK)


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