Legal & General Share News (LGEN)

Legal & General Information

Buy LGEN Shares
Add LGEN to Watchlist
Add LGEN to Alert

Share Price Information for Legal & General (LGEN)

Share Price is delayed by 15 minutes

Get Live Data

Share Price: 240.90

Bid: 240.70

Ask: 240.90

Change: 0.00 (0.00%)

Spread: 0.20 (0.083%)

Open: 0.00

High: 0.00

Low: 0.00

Prev. Close: 240.90

Last checked at -

Dana Petroleum Hasn't Convinced Holders Better Bid Exists-Sources

Wed, 28th Jul 2010 18:46

By Sarah Kent Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Dana Petroleum PLC's (DNX.LN) chief executive Thomas Cross has so far failed to convince shareholders to hold out for a better offer than the 1,800 pence-a-share approach put forward by Korea National Oil Corp., people familiar with the situation told Dow Jones Newswires Wednesday. Cross has been under pressure from shareholders to accept KNOC's offer, which values the company at GBP1.67 billion, a premium of more than 60% to the closing price before the offer was first reported. On Friday Dana recommended shareholders take no action after receiving KNOC's indicative bid, citing concerns over the Korean company's financing and some "critical preconditions." The conditions included Dana agreeing not to solicit any third-party offers for a four-week period following the start of due diligence and agreeing to allow KNOC to match any competing offer. But Cross's meetings with key investors Tuesday and Wednesday have done nothing to persuade them that the concerns are deal-breakers, or that there is a another feasible deal in the pipeline, the people familiar with the situation said. Dana's top shareholders include Schroders PLC (SDR.LN),which has a 13% stake, Blackrock Inc. (BLK), which has a 5% interest in the company, and Legal & General Group PLC (LGEN.LN) with 4.23%. "I understand that the meetings did not go well and shareholders remain convinced that 1,800 pence-a-share is fair value for the company," said one shareholder, who did not attend the meetings. Dana declined to comment on the meetings. Shares in Dana have jumped since the company received KNOC's initial 1,700 pence-a-share indicative approach June 17. They reached a 52-week high of 1,728 pence after KNOC revised its offer, which remains conditional on the Korean company gaining access to Dana's books and a recommendation from Dana's board. -By Sarah Kent, Dow Jones Newswires; +44 207 842 9376; sarah.kent@dowjones.com (Marietta Cauchi contributed to this article.) (END) Dow Jones Newswires July 28, 2010 13:46 ET (17:46 GMT)

More News

30 Jan 2023 08:57

LONDON MARKET OPEN: 888 boss leaves, Middle East activities suspended

(Alliance News) - Stock prices in London opened lower on Monday morning, amid market caution at the start of an important week for interest rate decisions by the world's top central banks.

30 Jan 2023 08:28

TOP NEWS: Legal & General Wilson to retire as CEO after over 10 years

(Alliance News) - Legal & General Group PLC on Monday said Chief Executive Nigel Wilson plans to step down, after more than a decade in post.

30 Jan 2023 08:06

L&G chief executive Nigel Wilson to retire

(Sharecast News) - Legal & General said on Monday that Sir Nigel Wilson is planning to retire after more than a decade as chief executive.

30 Jan 2023 07:55

LONDON BRIEFING: Unilever hires dairyman as CEO; Wilson to depart L&G

(Alliance News) - Stocks in London are set to open lower on Monday, as investors look ahead to three key interest-rate decisions this week.

24 Jan 2023 11:45

JPMorgan-backed Smart Pension to raise more than 100 mln stg in equity -sources

LONDON, Jan 24 (Reuters) - Smart Pension, a British pension services provider backed by JPMorgan and Legal & General, is in discussions with investors to raise more than 100 million pounds ($123.13 million) worth of equity capital, two sources close to the matter told Reuters.

23 Jan 2023 10:37

Glass Lewis recommends vote against Capricorn board, NewMed merger

Big question mark over Capricorn's planned merger with NewMed

23 Jan 2023 09:20

Legal & General Chair John Kingman to become chair of Barclays Bank UK

(Alliance News) - Barclays PLC and Legal & General Group PLC on Monday said L&G Chair John Kingman will join the board of Barclays as a non-executive director on June 1 and will become the next chair of Barclays Bank UK PLC.

16 Jan 2023 15:48

L&G plans to vote against Capricorn leadership and NewMed merger

LONDON, Jan 16 (Reuters) - Asset manager Legal & General plans to take the rare step of voting to oust energy group Capricorn's senior leadership and halt its planned merger with NewMed, according to a company document seen by Reuters.

10 Jan 2023 10:11

LONDON BROKER RATINGS: Jefferies likes Inchcape; HSBC cuts Clarkson

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

6 Dec 2022 10:26

LONDON BROKER RATINGS: JPMorgan cuts Lloyds but raises Barclays

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

23 Nov 2022 13:32

Investors back call for UK firms to support low-paid workers

Aviva Investors, LGIM among those to join campaign

21 Nov 2022 10:09

LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

18 Nov 2022 16:58

LONDON MARKET CLOSE: FTSE 100 gains capped by falling oil prices

(Alliance News) - Stock prices in London closed higher on Friday, but falling prices hit oil majors, keeping a lid on the FTSE 100's progress.

18 Nov 2022 12:18

LONDON MARKET MIDDAY: Stocks pick up and pound firms against dollar

(Alliance News) - Stocks in London were higher by midday on Friday, managing to shake off a gloomy economic backdrop, while the pound got a boost from market acceptance of Thursday's UK government budget.

18 Nov 2022 09:09

LONDON MARKET OPEN: FTSE 100 looks to end week on high note

(Alliance News) - Stock prices in London opened mixed on Friday, amid economic gloom in the UK, despite new data showing slight improvements in retail sales and consumer confidence.

Latest Share Chat

Legal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Dana Petroleum Hasn't Convinced Holders Better Bid Exists-Sources

Login to your account

Quickpicks are a member only feature

Login to your account