The latest proposal from Nostrum is actually a reduction in terms of a proposed per-share purchase price from two previous expressions of interest, but would be an all-shares deal.
Nostrum first made a move on Tethys on 13 July with a proposed offer of C$0.21 (US$0.158) per share, made up of cash or shares.
This was scuppered, however, as Tethys was still in a period of exclusivity over a potential deal with AGR Energy – a US$47.7
