Dana Petroleum turns down hostile bid from KNOC

first_imgWednesday 8 September 2010 3:03 am Dana Petroleum has rejected a hostile £1.67bn bid from Korea National Oil Corp, citing an independent valuation that said the explorer was worth considerably more.Dana also unveiled the acquisition of North Sea assets from Canada’s Suncor for £240m.Last month KNOC made its 1,800 pence bid direct to Dana’s shareholders after failing to convince Dana management to recommend its bid.Dana said independent experts it hired to value the company said it was worth from 2,120 pence to 2,465 pence, based on existing assets and over 3,000 pence if one assumed success in its exploration plans. John Dunne whatsapp Dana Petroleum turns down hostile bid from KNOC Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULL whatsapp Show Comments ▼last_img

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