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DNO Not Talking with Faroe Petroleum

DNO ASA has not been in talks with Faroe Petroleum’s board or management, according to people close to the situation, even as its unsolicited offer was pending, and as it purchased shares tipping it into a mandatory offer.featured

Faroe Petroleum Board Likely Responds to DNO Offer this Week

Although the board of Faroe Petroleum has until December 26 to respond to DNO’s formal offer for the company, filed on December 12, it is likely to respond to the offer this week,featured

Faroe Avoids Shareholder Vote on Asset Swap

Faroe Petroleum had to seek prior approval from the UK’s Panel on Takeovers and Mergers for its asset swap agreement with Equinor, because under Rule 21 of the Takeover Code, when afeatured

Present DNO Offer for Faroe Unlikely to Sway Shareholders

The unsolicited offer for Faroe Petroleum plc by DNO ASA is not expected to be embraced by shareholders, sources close to Faroe told CTFN.featured

Third Parties Evaluate MEG Energy After Husky Unsolicited Offer

A source close to MEG Energy told CTFN that the company opened a data room to several participants and signed non-disclosure agreements, and that they are exclusively focused on that process.featured

Santos Unlikely to Receive Further Bids over Coming Months

Adelaide-based oil and gas producer Santos is unlikely to receive further takeover offers following Harbour Energy’s failed bid, for at least six to twelve months, unless oil prices dropfeatured

Santos Looking to Extract More Value from Harbour Energys Bid

Adelaide-based oil & gas producer Santos is trying to unlock more value from Harbour Energy’s non-binding takeover proposal, two Australian M&A lawyers who have worked on several major energy deals told CTFN.featured

Tempered Hopes that Baker Hughes May Attract Suitors

Baker Hughes remains in play after its failed merger with Halliburton, and General Electric and The Carlyle Group are two potential acquirers of the No. 3 oil field services company, three industry experts told CTFN. GE, as a proposed buyer of assets that Halliburton and Baker Hughes proffered in attempts to secure regulatory approval of … Read Morefeatured

Halliburton Seeks Friendlier Court

The Halliburton defense team has asked the federal court in Delaware for a change of venue that would allow them to defend their $35 billion merger with Baker Hughes before a court in Houston, which should be a friendlier audience for the antitrust case involving the two oilfield services giants. The companies have an impending … Read Morefeatured

Petrobras Voices Concerns over Baker Hughes/Halliburton Merger

Brazilian state-run energy company Petrobras raised concerns over the merger between Halliburton and Baker Hughes during a meeting with CADE officials last Thursday, a person familiar with the situation told CTFN. The person said that Petrobras, which is the merging parties’ main client in Brazil, is worried that the transaction will lead tofeatured

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