Capricorn Energy Agrees to Revised DNO Takeover Offer
UK-listed Capricorn Energy has agreed to revised terms for a 396 million dollar takeover by Norwegian oil firm DNO. The new proposal offers 5.214 dollars in cash per share, while rival bidder Genel Energy considers its options.
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Capricorn Energy agreed to revised terms for a $396M takeover offer from DNO on Thursday afternoon, restructuring the buyout after competing bids. The deal values the United Kingdom oil firm at a higher cash price per share than previous proposals. Regional M&A activity is accelerating as energy firms deploy capital generated during recent crude price surges.
