Dragon, Petroceltic halt takeover talks

Offshore staff

DUBAI, UAEDragon Oil has dropped a proposed bid for Dublin-based independent Petroceltic in light of recent oil price developments.

The two parties had discussed an offer values at £2.30 ($3.60) per share in cash, subject to shareholder approvals.

Under Ireland’s takeover rules, Dragon can submit a new offer 12 months after pulling out or earlier if invited by Petroceltic to re-start talks.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...