The boards of Ophir and Medco have agreed a recommended acquisition of Ophir by Medco at £0.55/sh, valuing Ophir at c. £361 mm. The acquisition is conditional on amongst other things, a courtsanctioned scheme of arrangement which needs 75% shareholder approval. The Ophir board intends to recommend unanimously the transaction to Ophir Shareholders. The company expects the scheme will become effective in 1H19.
30 Jan 2019
FLASH: Recommended cash offer for Ophir
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FLASH: Recommended cash offer for Ophir
Ophir Energy (OPHR:LON) | 0 0 1.6% | Mkt Cap: 402.5m
- Published:
30 Jan 2019 -
Author:
Stephane Foucaud -
Pages:
2
The boards of Ophir and Medco have agreed a recommended acquisition of Ophir by Medco at £0.55/sh, valuing Ophir at c. £361 mm. The acquisition is conditional on amongst other things, a courtsanctioned scheme of arrangement which needs 75% shareholder approval. The Ophir board intends to recommend unanimously the transaction to Ophir Shareholders. The company expects the scheme will become effective in 1H19.