27th Oct 2014 06:29
LONDON (Alliance News) - Ophir Energy PLC is understood to be preparing a takeover offer for Salamander Energy PLC amid rumours a bidding war could start for the Asia-focused oil explorer, The Sunday Times reported.
FTSE 250-listed Ophir and Compañía Española de Petróleos, or CEPSA, a Spanish energy group controlled by Abu Dhabi investment fund IPIC, are understood to be preparing rival takeover offers for Salamander which could value the company at around GBP275 million.
The catalyst for the bids is thought to be the USD280 million deal struck by Salamander in July to sell a stake in its flagship oil field in Thailand. The company is among a number of explorers which has been hit hard by the plunging oil price.
http://www.thesundaytimes.co.uk/sto/business/Industry/article1475666.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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