Unnamed suitors interested in Ithaca

Offshore staff

CALGARY, Canada – Ithaca Energy has received a non-binding proposal to acquire all its outstanding shares.

The company adds that discussions are at a preliminary stage and there is no certainty that the approach would lead to a takeover offer.

Ithaca has also received unsolicited interest from various third parties. The Board believes it is in its shareholders’ interests to enter into discussions with all bona fide interested parties “with a view to maximizing shareholder value.”

3/1/2012

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