UPDATE: DNO fails to raise bid to buy Capricorn
Norwegian oil and gas operator DNO has confirmed that it will not increase its offer for Capricorn Energy, following an announcement late last week that Genel Energy has increased its bid to become the preferred suitor.
DNO's offer of $5.214 in cash per Capricorn share has fallen behind Genel's $5.74 per share - broken down into $4.75 in cash and a special dividend of 99 cents.
A stock exchange update explained: "DNO continues to rigorously evaluate a pipeline of opportunities, both across the North Sea and the Kurdistan Region... 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...
