Australian company Armour Energy has recommended shareholders accept a A$60.9 million (US$44.5 million) takeover offer from China's Landbridge Group.
Landbridge launched a A$36.6 million offer for Armour through its Australian subsidiary WestSide in August, however Armour's board knocked it back saying it undervalued the company.
On Friday, Armour revealed Landbridge had agreed to up its offer from A$0.12 per share to A$0.20
