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LONDON, Aug 2 (Reuters) - Emirates National Oil Co Ltd(ENOC) on Sunday raised its takeover bid for Dragon Oil Plc to 800 pence per share, a price that won the backing ofthe oil producer's two largest minority shareholders.
ENOC said in a statement on Sunday the increase had won thesupport of the required majority of Dragon oil shareholders anddeclared the offer its best and final bid. ENOC had previouslybid 750 pence per share.
Dubai-based ENOC, which owns 54 percent of Dragon Oil, needed acceptance from another 23 percent of the company'sshareholders for the takeover to go through. It said it hadachieved 29.92 percent shareholder acceptance and intended todelist the firm shortly.
"With the level of acceptances now received, we havedeclared the offer unconditional in all aspects," said ENOCchief executive Saif Al Falasi.
The statement included endorsements from the new offer fromlarge minority shareholders Baillie Gifford and Elliott CapitalAdvisors.
"We are now pleased to support the revised offer of 800pence, which we believe represents an attractive exit price,"Baillie Gifford said. (Reporting by William James; Editing by Tom Heneghan)