Cooper made an off-market scrip takeover bid for Somerton in April, offering one of its shares for either 2.8 Somerton shares, or one share for A9 cents and 4.73 Somerton shares.
Beach’s decision to accept the shares and cash option will see it receive about 17 million shares in Cooper and A$7.2 million ($US$7 million) in cash.
As of yesterday, Cooper has an interest in 34.04%
