Ophir rejects Medco’s possible offer

Ophir rejects Medco's possible offer
Image courtesy of Ophir

London-based Ophir Energy said the company’s board decided to reject the possible offer to be made by Medco Energi. 

To remind, Indonesian oil and gas company Medco Energi on Friday said it could come up with a possible bid for Ophir, valuing each Ophir share at 48.50 pence for a total of $440 million.

Ophir said on Monday its board unanimously rejected the proposal “as it undervalued Ophir.”

Medco said the possible offer would come at a 46.1 percent premium to the closing price of 33.2 pence per Ophir share on December 28, 2018.

Ophir added that on January 15, it will provide an update on its trading and operations for the twelve month period ending 31 December 2018.

Share this article

Follow LNG World News

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >