Serica Energy plc has exited its offer to buy Pharos Energy plc after the Pharos board withdrew its recommendation of acceptance in favour of a third party’s higher bid. Serica’s £145.7m offer at the end of July followed Israel-based Ratio Petroleum Energy LP’s bid of £124.3m, which it subsequently increased to £146.4m. The UK North […]
Tag: withdrawn offer
Central Asia withdraws offer for NWR
Central Asia Metals plc has withdrawn its offer for New World Resources Ltd after rival Kinterra Capital GP Corp submitted a higher bid. BREAK FEE Central Asia today said that Kinterra’s offer of A$0.066 per NWR share “may reasonably lead to a superior proposal”. “After careful consideration, the board of CAML has decided not to […]