Capricorn Energy not planning to bid for Deltic

(Sharecast News) - Capricorn Energy said on Tuesday that it does not plan to make a bid for Deltic Energy, after it agreed the terms of a takeover by Neo Next+ Energy. AIM-listed North Sea operator Deltic announced last month that it was in potential takeover talks with three parties: Capricorn Energy, Petrogas International E&P - a subsidiary of Mohammed Al Barwani - and private Norwegian company Blue Concept.

On 7 May, Deltic said a recommended cash acquisition by Neo Next+ had been agreed, in a deal that values the company at about £7.2m on a fully diluted basis.

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