17th Mar 2015 16:42
LONDON (Alliance News) - Dragon Oil PLC Tuesday said it has received an approach from Dubai-based Emirates National Oil Co Ltd LLC about a possible takeover offer for the company.
Dragon Oil shares closed up 13% on Tuesday at 602.00 pence per share.
In its own statement, Emirates National Oil confirmed it has made a tentative offer for Dragon Oil which reflects a premium to Dragon's closing share price of GBP5.09 last Friday.
Both companies said there is no certainty a firm offer will be made and said further announcements will be made.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DGO.L