Australia's Senex agrees to $610 mln buyout by POSCO Internationa

Coal pile - Reuters

POSCO International, the trading arm of steel giant POSCO, received Senex's approval for the deal after hiking its offer for a third time to A$4.60 a share last month.

POSCO International owns oil and gas stakes in Southeast Asia and is looking to diversify with Senex's gas operations, which supply Australia's tight east coast market and the Gladstone liquefied natural gas (LNG) export project.