Capricorn switches takeover recommendation to DNO
Capricorn Energy has changed its takeover recommendation from Genel Energy to DNO.
DNO has made an offer worth $396m - $36m higher than the offer from Genel, which the board had previously approved to shareholders.
The DNO offer is worth 384 pence per Capricorn share, representing a 45% premium to the closing price of 266p on 10 March - the day prior to the start of the offer period - and around 10% more than the Genel offer.
Capricorn's directors, advised by Canaccord Genuity, consider DNO's terms "to be fair and reasonable"... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
