24th Nov 2015 17:46
LONDON (Alliance News) - Genel Energy PLC, an oil company headed by former BP PLC boss Tony Hayward, is in talks over a tie-up with New African Global Energy, a privately owned rival, Sky News reported Tuesday.
Talks are at an early stage, and are just one of a number of discussions between Genel and other oil groups, Sky News said, citing sources.
The structure of any potential deal is unclear, although it is possible that Genel could use its shares as part of a consideration, the report said.
http://news.sky.com/story/1593628/hayward-oil-firm-in-2bn-new-age-merger-talks
Shares in Genel closed up 0.2% at 244.38 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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