Genel trumps DNO with $436m takeover bid for Capricorn Energy

(Sharecast News) - Capricorn Energy agreed on Friday to be taken over by Genel Energy in a $436m (£330m) deal that trumped a previously-agreed $396m (£292m) takeover by Norwegian oil firm DNO. Genel Energy increased its offer to $5.74 per share from $4.74. The offer price comprises $4.75 in cash and a special dividend of $0.99.

It represents a 63% premium to the closing Capricorn share price on 10 March 2026, which was the day prior to the start of the offer period.

Capricorn said its directors considered the terms of the new offer by Genel to be "fair and reasonable" and have therefore withdrawn their recommendation for the DNO offer.

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