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Global Marine Energy

  • BY: Andrew Hore |
  • POSTED: 06/11/2007 |

Hong Kong-listed EMER International is increasing its bid for Global Marine Energy from 13p to 16p a share.

That bid values GME at £11.6m. IDM Group, which had been going to reverse into GME prior to the EMER bid, has remained on the scene since EMER made its original bid. It has been considering a bid for GME and this increased offer by EMER appears to be designed to head off that possibility. IDM is still considering its position.

The main condition for the EMER bid remains that shareholders should pass the resolution enabling GME to take up its bridge facility with Spring Capital.

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