Westside Receives Takeover Bid

Westside Corp., a coal-seam gas explorer, has received a $177 million takeover bid from a company that it didn’t identify.

“The Board of WestSide has not formed a view, at this stage, as to the merits of the Indicative Proposal and there is no guarantee that any formal, binding proposal will be received,” company said in a statement.

The company has operations in the Australian state of Queensland. WestSide operates the Meridian SeamGas CSG fields west of Gladstone in Queensland’s Bowen Basin.