NewsMV
The Capricorn Energy takeover is in focus after Norwegian oil company DNO agreed revised terms that lift the per-share consideration to $5.214 in cash, valuing the UK-listed company at $396m, or £294m.
The restructured bid strips out the previously proposed special dividend, concentrating the full acquisition value in cash from DNO's Bidco subsidiary.
Capricorn's directors intend to unanimously recommend the deal to shareholders. The prior structure carried $4.224 per share in cash alongside a proposed special dividend of $0.99.
Under the new terms, Bidco delivers the full consideration directly, removing the dependency on Capricorn's ability to declare and pay the dividend before the transaction closes.
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