Africa-focused Tullow Oil said on Wednesday it would stick to the current form of its all-share merger plan with Capricorn Energy. Photograph: Baz Ratner/ReutersAfrica-focused Tullow Oil said on Wednesday it would stick to the current form of its all-share merger plan with Capricorn Energy, shrugging off criticism from some Capricorn investors who say the deal undervalues the company.
Capricorn's board supports the merger, but the group also said last week it was exploring alternative deals after unnamed parties expressed interest. Capricorn shareholders Madison Avenue, Legal & General IM and Schroders, as well as some other investors, have come out against the merger plan. The deal requires approval from at least 75 per cent of Capricorn shareholders, a threshold that might be in jeopardy if hedge fund investors who have been critical of the deal turn their derivative investments into direct shareholdings.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Tullow Oil says sticking to Capricorn merger plansExploration company Tullow Oil said today it would stick to the current form of its plan all-share merger plan with Capricorn Energy, shrugging off criticism from some Capricorn investors who say the deal undervalues the company.
Herkunft: RTEbusiness - 🏆 16. / 61 Weiterlesen »
Herkunft: businessposthq - 🏆 8. / 71 Weiterlesen »