19th Nov 2007 07:02
Eni S.p.A.19 November 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO ORFROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THERELEVANT LAWS OF SUCH JURISDICTION 19 November 2007FOR IMMEDIATE RELEASEEni S.p.A. ("Eni") Termination of discussions with Burren Energy plc ("Burren") Eni wishes to clarify its position regarding Burren by announcing that it is nolonger considering making an offer for the company. On 9 October 2007, Eni announced that an indicative offer proposal of 1050 penceper share in cash had not been accepted by the Board of Burren and that itcontinued to seek limited due diligence, irrevocable undertakings from keyshareholders and a recommendation from the Board of Burren prior to making aformal offer to all shareholders. After a number of discussions between Burren and Eni, it has become clear thatwe are unable to reach agreement on the key terms of a recommended offer. For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers, Eni,reserves the right to make or participate in an offer or possible offer forBurren within the six months following the date of this announcement: (i) withthe agreement or recommendation of the Board of Burren; (ii) if any announcementis made by or on behalf of Burren or by a third party relating to the making ofan offer or possible offer for Burren; (iii) upon the announcement by or onbehalf of Burren of a "whitewash" proposal (as defined in the Code) or of areverse takeover (as defined in the Code); or (iv) if there is a material changein circumstances. PRESS ENQUIRIESEni S.p.A.Gianni Di GiovanniHead of External Communication+39 02 520 31287 or +39 06 598 23 98 Claudia CarloniHead of Investor Relations+39 02 520 31445 Fabrizio CoscoHead of Company Secretary+39 06 598 22 449 N M Rothschild & Sons LimitedRoger Ader, Neeve Billis or Ed Welsh+44 207 280 5000 N M Rothschild & Sons Limited, which is authorised and regulated by theFinancial Services Authority in the United Kingdom, is acting for Eni S.p.A. andno one else in relation to the subject matter of this announcement and will notbe responsible to anyone other than Eni S.p.A. for providing the protectionsafforded to clients of N M Rothschild & Sons Limited nor for providing advice inrelation to the subject matter of this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Burford Capital