Tullow Oil in preliminary talks over potential takeover by Kosmos

(Sharecast News) - Tullow Oil confirmed on Thursday that it is in preliminary talks with Kosmos Energy about a possible all-share offer for the oil and gas exploration company. In a brief statement responding to recent press speculation, Tullow said there can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.

"A further announcement will be made as and when appropriate," it added.

Tullow shares closed up 6.2% at 26.14p.

Under UK takeover rules, Kosmos has until 1700 GMT on 9 January 2025 to either announce a firm intention to make an offer or walk away.