Latin America-focused oil exploration company Amerisur Resources on Monday snubbed bid overtures from French rival Maurel & Prom, saying Maurel’s possible £210-million offer undervalued it.
The offer would comprise 12.5 pence in cash and new shares in Maurel worth 4.5 pence each, valuing Amerisur at around £210-million in terms of stock market capitalization.However, Amerisur Resources said the possible offer undervalued the company, and added it had been in talks with other possible bidders as well.
Earlier this year, Occidental Petroleum made a proposed $38-billion acquisition of Anadarko Petroleum, while Callon Petroleum announced a takeover of Carrizo Oil & Gas Inc. in July.
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