Rockhopper to acquire Falkland Oil for $87 million

Rockhopper Exploration Plc has agreed to buy Falkland Oil & Gas Ltd. in an all-share deal valued at $87 million, according to Bloomberg.

By combining Rockhopper and Falkland Oil & Gas, Rockhopper will create a more coherent license ownership structure in the North Falkland Basin.

The transaction requires the approval of Falkland shareholders. Bloomberg noted that CEO Tim Bushell and Chairman John Martin will join the board of the combined company as non-executive directors.

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