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TOP NEWS: Ophir Energy Gets Takeover Bid From Indonesia's Medco Energi

Wed, 02nd Jan 2019 07:53

LONDON (Alliance News) - Oil and gas company Ophir Energy PLC confirmed on Wednesday it has received a takeover offer from Jakarta-listed energy company PT Medco Energi Internasional Tbk.

Ophir said that it and Medco were currently in discussions about a cash offer, and that there could be "no certainty" that a firm offer will be made.

Medco has until January 28 to make a firm offer to wholly acquire Ophir Energy.

Ophir shares closed Monday in London at 35.70 pence, which mean they lost 48% of their value in 2018 and left Ophir with a market capitalisation of GBP252 million.

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