finance.yahoo.com

Capricorn Backs DNO’s $396 Million Bid Over Genel Offer

DNO ASA logoDNO ASA
Sig3.24Sen+2.58Env0.00Soc0.00Gov+0.64
Capricorn Energy logoCapricorn Energy
Sig3.22Sen+2.28Env0.00Soc0.00Gov-1.12
Genel Energy logoGenel Energy
Sig2.55Sen+2.95Env0.00Soc0.00Gov0.00

Capricorn shareholders would receive $5.214 per share under Capricorn Energy’s backing of DNO’s bid, including $4.224 per share in cash from DNO’s acquisition vehicle and an expected $0.99 special dividend if conditions are met. The $396 million value contrasts with Genel’s earlier $360 million offer. DNO’s assets are concentrated in Egypt’s Western Desert, and a combined group would have pro forma 2025 production of about 156,939 boepd and 2P reserves of 443.3 million boe. Capricorn does not currently plan to seek court sanction for the Genel

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