Coal producer New Hope Corporation Limited
(ASX:NHC) has launched a takeover bid for all the shares it does not currently hold in Bridgeport Energy.
Bridgeport Energy has recommended a cash offer at $0.41 per share and both companies have entered into a bid implementation agreement.
New Hope says it expects to pay a maximum of $45 million if the takeover goes ahead.
New Hope Corporation reported a net profit of $101 million in the first half of the 2012 financial year.
