(DGO.L) Dragon Oil PLC Buy/Sell

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Author	brynjon View Profile \| Add to favourites \| Ignore
Date posted	2009-11-07 23:25
Subject	The FT says its needs 75%
Votes for this Posting	Has no votes for or against.
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FT from 2nd November Dragon Oil has agreed to become a full subsidiary of Emirates National Oil Company (Enoc), Dubai’s national oil company, its majority shareholder, in a deal worth £1.14bn. EDITOR’S CHOICE Dragon plans on hold - Aug-17ENOC in talks to buy Dragon Oil - Jun-05In depth: Oil - Sep-02Dragon Oil eyes primary London listing - Mar-27Dragon sees profits surge - Mar-05Advisers to the oil and gas producer, which has a dual listing in London and Dublin and operates in the Caspian Sea, negotiated for five months with Enoc, which owns 52 per cent of Dragon shares and has been expected for years to table a take-out bid. The two companies agreed a cash offer of 455p a share for Dragon’s minority shareholders. The offer values Dragon at £2.36bn and requires approval of 75 per cent of minority shareholders to complete.
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