Norway DNO to Buy Capricorn Energy
Norwegian oil firm DNO has agreed to acquire UK-listed Capricorn Energy for $396 million in cash, outbidding a rival offer from Genel Energy and winning the backing of Capricorn's board.
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DNO ASA agreed to buy Capricorn Energy PLC for $396 million on Tuesday morning, topping a rival bid from Genel Energy PLC with an all-cash offer of $5.214 per share. The deal values Capricorn at a premium over Genel's $360 million proposal made in July. Capricorn's board backed the higher valuation during Tuesday's trading session.
