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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
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 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
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
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