Genel Energy raises Capricorn bid
Genel Energy raised its cash offer for Capricorn Energy to $436 million, topping a rival bid from DNO. Capricorn shares surged to a 15-year high following the updated deal.
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GENEL ENERGY PLC raised its cash offer for CAPRICORN ENERGY PLC to $436 million on Friday morning, topping a rival bid from Norway's DNO ASA and re-securing board backing. The revised proposal values shares at $5.74 each, marking a 10% premium over the competing offer. The bidding war highlights intense interest in energy assets within Egypt's upstream sector.
