By John Lee. DNO ASA confirmed on Friday morning it does not intend to make an offer to acquire Genel Energy plc, following the Genel board's refusal to engage with its proposal. Genel shares fell more than 10% on the news. DNO had proposed 69 pence per share in cash, with a cash-and-share alternative. The […]
By John Lee. Genel Energy has unanimously rejected an unsolicited takeover proposal from Norway's DNO ASA, saying the offer fundamentally undervalues the company. DNO proposed to acquire all of Genel's issued ordinary share capital at 69 pence per share in cash. The board of Genel, having evaluated the proposal with its advisers, rejected the approach […]
By John Lee. A possible cash offer for Genel Energy plc has been put forward by Norwegian oil and gas operator DNO ASA, valuing the company at approximately £202 million [approx $271 million]. The approach was rejected by the Genel Board on 4 August 2026, but DNO says it remains willing to engage. Under the […]
