Serica Energy plc has secured an extension to EnQuest plc’s possible all-share offer by way of a reverse takeover for the UK North Sea-focused company.
DISCUSSIONS
EnQuest was due to state its firm intention to make an offer for Serica by 5pm on 4 April 2025 in accordance with the Panel on Takeovers and Mergers Code Rule 2.6(a), also known as the “put up or shut up” (PUSU) rule.
Serica said that discussions between the two companies continued and that the Panel had consented to extend the deadline to 5pm 2 May 2025.
“The revised PUSU deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code, ” added the company.