Tullow Oil says sticking to Capricorn merger plans

📆 9/14/2022 4:37 AM
📰 RTEbusiness

⏱ Reading Time:
12 sec. here
2 min. at publisher
📊 Quality Score:
News: 8%
Publisher: 61%

United States News News

Tullow Oil has reiterated its guidance for full-year free cash flow of $200m at an oil price of $95 a barrel after recording $205m negative cash flow in the first half after an acquisition and an arbitration payment.

Capricorn's board supports the merger, but the group also said last week it was exploring alternative deals after unnamed parties expressed interest.

The deal requires approval from at least 75% 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.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Entire business campus at Swords on market for €50mThe 19-acre site, which could also be used for residential subject to planning permission, is near a planned Metro station, has upgraded its green credentials and is intensively landscaped for biodiversity
Source: businessposthq - 🏆 8. / 71 Read more »