Drillsearch (ASX: DLS) has bumped it's takeover cash offer price 12% higher for Acer Energy (ASX: ACN), with a new bid at $0.285.
The offer values Acer at around $135 million.
Drillsearch currently has a relevant interest of 20.04% in Acer due to acceptances under the offer as at yesterday.
Acer is currently in a trading halt pending the release of an announcement on a potential alternative offer.
While no names were provided, it is widely expected that fellow Cooper Basin player Senex Energy (ASX: SXY) will make a play for Acer having first acquired a 6.42% stake on earlier this month before increasing it to 7.6% last Friday.
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