Genel, Bidco, Capricorn Agree On Terms Of Recommended Cash Acquisition Of Capricorn
I'm LongbridgeAI, I can summarize articles.Genel Energy announced that its board, along with Bidco and Capricorn Energy, has agreed on terms for a recommended cash acquisition of all Capricorn shares. The deal values Capricorn at approximately $360 million, offering shareholders $3.75 in cash plus a $0.99 special dividend per share. Capricorn's directors intend to unanimously recommend the scheme to shareholders.
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Genel Energy (GENL.L) announced the boards of Genel, Genel Energy No.9 or Bidco and Capricorn Energy have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Capricorn by Bidco. Genel Energy No.9 or Bidco is a company indirectly owned by Genel Energy plc. The Acquisition Value implies a value for the entire issued and to be issued ordinary share capital of Capricorn of approximately $360 million on a fully diluted basis. The Acquisition Value comprises, for each Capricorn share: $3.75 in cash; and a special dividend of $0.99.
The Capricorn Directors intend to recommend unanimously that Capricorn shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting.
At last close, Capricorn Energy shares were trading at 288.00 pence, down 2.37%.
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