M&A

FT Energy Source

Here’s the latest from the FT’s Lex on the decision by KNOC to launch a hostile bid for Dana Petroleum:

Korea National Oil Corporation must want North Sea oil badly. Why else go hostile in its £18-a-share approach for Dana Petroleum, which values the UK-listed exploration and production group at nearly £1.9bn? The astonishing agression from the Asian state entity, which has seen similar deals slip away before because it was too timid in its approaches, has raised the stakes all around.

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Sheila McNulty

Mergers and acquisitions in the US oil and gas sector shot up in the second quarter, reaching their highest level in more than seven quarers, according to a report released today by PricewaterhouseCoopers, as expectations of buyers and sellers finally aligned Read more