South Korea's POSCO International in talks to buy Australia's Senex Energy

South Korean trader POSCO International Corp made an A$814.8 million ($605.56 million) takeover bid for Senex Energy Ltd in September, the Australian natural gas producer said on Monday.

Senex said it was giving POSCO exclusive due diligence access until Nov. 5 to better its already twice-improved bid of A$4.40 per share, with the South Korean firm indicating it would likely push the deal through an off-market takeover if it goes ahead.

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