POSCO, a steel-making company, offered to acquire Senex, an energy company, for $610m. The Senex Board believes it is in the best interests of its shareholders to continue to engage with POSCO International and will assess any proposal received on its merits. There is no certainty that discussions between POSCO International and Senex will result in any binding agreement on a transaction. On December 13, 2021, Senex agreed the deal and Senex Board unanimously recommends that shareholders vote in favour of the Scheme.