Longview Oil +10.2% on takeover offer but few details released

|By:, SA News Editor

Longview Oil (LGVWF +10.2%) says it is reviewing an unsolicited, non-binding takeover offer from an unidentified public company.

Longview provides few details except that the prospective bidder would pay for the deal with its own shares.

The company adopts a shareholder rights plan as a defensive move to provide its board with time to evaluate the offer and alternatives.