Cue Energy Resources' (ASX:CUE) independent board committee appointed Gilbert + Tobin as legal advisers and Azure Capital as financial advisers to help in its consideration of Horizon Oil's (ASX:HZN) off-market takeover offer to acquire all of the ordinary shares in Cue that it does not already own, according to a Thursday Australian bourse filing.
The offer is not yet open, per the filing.
The members of the independent board committee will each make a formal recommendation to Cue shareholders regarding the offer in a target's statement, the filing said. The committee reiterated its advice that Cue shareholders did not need to take any action in relation to the takeover offer at this stage.