Market Reaction: Positive. The offer price represents 56% premium to Friday's close. We also highlighted in our note "Tethys Petroleum Limited: A Morsel of a Choice for Nostrum Oil & Gas Plc?", dated July 14, 2015, that we would value the combined Nostrum/Tethys entity at £8.12 per share (RENAV). Assuming Tethys' shareholders would take Nostrum's paper rather than cash, this would imply 144% upside for Tethys' shareholders.
10 Aug 2015
POTENTIAL ACQUISITION BY NOSTRUM OIL & GAS (NOG LN) BACK ON
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POTENTIAL ACQUISITION BY NOSTRUM OIL & GAS (NOG LN) BACK ON
Tethys Petroleum Limited. (0PRL:LON) | 0 0 0.0%
- Published:
10 Aug 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Positive. The offer price represents 56% premium to Friday's close. We also highlighted in our note "Tethys Petroleum Limited: A Morsel of a Choice for Nostrum Oil & Gas Plc?", dated July 14, 2015, that we would value the combined Nostrum/Tethys entity at £8.12 per share (RENAV). Assuming Tethys' shareholders would take Nostrum's paper rather than cash, this would imply 144% upside for Tethys' shareholders.