The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLegal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 240.90
Bid: 240.70
Ask: 240.90
Change: 5.10 (2.16%)
Spread: 0.20 (0.083%)
Open: 237.40
High: 241.80
Low: 237.00
Prev. Close: 235.80
LGEN Live PriceLast checked at -

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

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
11 Jul 2023 10:08

Britain's 50-billion pound pensions gamble could put savers in fresh peril

LONDON, July 11 (Reuters) - Britain's financial services industry has broadly cheered fresh government proposals to jumpstart the economy by channelling 50 billion pounds ($64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said.

Read more
10 Jul 2023 18:00

UK pension funds back next phase of post-Brexit City shake up

Private pensions pledge up to 50 billion pounds

*

Read more
10 Jul 2023 13:45

Allergy Therapeutics appoints new CFO; interim CFO to leave in August

(Alliance News) - Allergy Therapeutics PLC on Monday said it has promoted Group Financial Controller Shaun Furlong to chief financial officer.

Read more
9 Jul 2023 13:01

Hunt to outline "evolutionary" pension funds investment reforms for UK

(Alliance News) - UK Chancellor Jeremy Hunt will promise "evolutionary not revolutionary" reforms to get pension funds making billions of pounds of riskier investments in fast-growing firms to boost economic growth.

Read more
5 Jul 2023 12:07

LONDON MARKET MIDDAY: Stocks down; eyes on China slowdown, Fed minutes

(Alliance News) - Stock prices in London were lower at midday on Wednesday amid a solidly risk-off mood following a slew of weak economic data, including from the world's second-largest economy.

Read more
5 Jul 2023 10:22

Legal & General confirms five-year targets

(Sharecast News) - Legal & General Group reiterated its five-year growth targets on Wednesday, as it confirmed that recently introduced accountancy changes would not have any impact.

Read more
5 Jul 2023 09:00

LONDON MARKET OPEN: Stocks head lower before Fed minutes

(Alliance News) - Stock prices in London opened in the red on Wednesday, amid fears of slowing growth in China, and escalating tension between the two world's largest economies.

Read more
5 Jul 2023 08:22

TOP NEWS: Legal & General says on track to achieve five-year plan

(Alliance News) - Legal & General Group PLC on Wednesday set out a confident outlook and said it enjoyed a busy first-half of pension risk transfer dealings.

Read more
5 Jul 2023 07:59

LONDON BRIEFING: L&G confident; Supreme wins "significant" vaping pact

(Alliance News) - Stocks in London are expected to open lower on Wednesday, as investors assess weaker Chinese economic data, and look ahead to the release of the latest US Federal Reserve meeting minutes.

Read more
30 Jun 2023 10:59

UK life insurers' exposure to Thames Water is 'minimal', Citi says

(Sharecast News) - Analysts at Citi pointed out on Thursday that the UK life insurance sector's direct exposure to Thames Water was "minimal".

Read more
20 Jun 2023 08:33

Lab crunch: British science has nowhere to go

OXFORD, England, June 20 (Reuters) - For Ros Deegan, the thrill of raising $100 million to expand a biotech firm among the dreaming spires of Oxford was soon tempered: unable to find a bigger laboratory, she routinely had to work at home.

Read more
15 Jun 2023 17:15

UK's FTSE 100 rises on energy boost; Informa jumps

ECB raises rates by an expected 25 bps

*

Read more
15 Jun 2023 11:12

Legal & General new CEO has "hard act to follow" after Wilson's tenure

(Alliance News) - Legal & General Group PLC on Thursday named its new chief executive, but Antonio Simoes has a "hard act to follow."

Read more
15 Jun 2023 09:15

Legal & General hires Santander's Antonio Simoes as CEO

Simoes will join the company on Jan. 1, 2024

*

Read more
15 Jun 2023 09:10

Santander appoints Castro e Almeida to drive growth in Europe

MADRID, June 15 (Reuters) - Santander said on Thursday it has appointed Pedro Castro e Almeida as regional head for Europe as the Spanish bank bets on this region to drive growth.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.