Genel raises Capricorn offer to $436 million including special dividend
Genel Energy ($GENL) increased its recommended offer for Capricorn Energy ($CNE) to an aggregate $5.74 per share, comprising $4.75 in acquisition cash and a planned $0.99 special dividend. Including that dividend, the fully diluted equity value is approximately $436 million. The package is about 10% above DNO’s competing proposal, and Capricorn’s board withdrew its recommendation of the DNO offer in favor of Genel. Shareholders representing approximately 39.1% of Capricorn’s issued shares have p
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