{"id":32629,"date":"2026-08-11T15:50:57","date_gmt":"2026-08-11T15:50:57","guid":{"rendered":"https:\/\/microvibenews.com\/?p=32629"},"modified":"2026-08-11T15:50:57","modified_gmt":"2026-08-11T15:50:57","slug":"capricorn-focus-on-genel-deal-as-other-suitors-pull-out-daily-business","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=32629","title":{"rendered":"Capricorn focus on Genel deal as other suitors pull out \u2013 Daily Business"},"content":{"rendered":"<p><\/p>\n<div>\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3.png\" alt=\"Capricorn Energy\" class=\"wp-image-145931 lazyload\" style=\"width:840px;height:auto\"\/><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" width=\"794\" height=\"494\" src=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3.png\" alt=\"Capricorn Energy\" class=\"wp-image-145931 lazyload\" style=\"width:840px;height:auto\" srcset=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3.png 794w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3-300x187.png 300w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3-768x478.png 768w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/01\/Capricorn-Energy-3-600x373.png 600w\" sizes=\"(max-width: 794px) 100vw, 794px\"\/><figcaption class=\"wp-element-caption\"><em>Capricorn reiterates its support for the Genel offer<\/em><\/figcaption><\/figure>\n<p class=\"has-medium-font-size wp-block-paragraph\">Two of the potential suitors for Capricorn Energy have withdrawn their interest in making a bid, leaving the board of the Edinburgh-based oil and gas company to complete a deal with Genel Energy.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">London-based Samos and the Saudi group Alamadiyaf al-Masiyyah said before today\u2019s takeover panel deadline that they do not intend to make an offer for the business, which was created in the early 1980s by former Scotland rugby international Sir Bill Gammell.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">The board said it is now focused on delivering the recommended $360 million offer for the company agreed with Genel on 2 July. <\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Shareholders in Capricorn, whose main interests are in north Africa, will receive $4.74 per share, made up of $3.75 in cash and a special dividend of $0.99.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">It said the offer from Genel provides Capricorn shareholders with an opportunity for immediate realisation of future value potential in cash at an attractive premium. It reiterates its recommendation that shareholders vote in favour of the offer at shareholder meetings on 18 August.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Canaccord Genuity has been advising the Capricorn board.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">One potential hurdle is that Kurdistan-focused Genel has received and rejected a \u00a3202m, or 69p-per-share, offer from Norway\u2019s DNO which now has 28 days to consider improving the price.<\/p>\n<p><!-- Simple Share Buttons Adder (8.6.0) simplesharebuttons.com -->           \t            <\/div>\n<p><script>\n!function(f,b,e,v,n,t,s)\n{if(f.fbq)return;n=f.fbq=function(){n.callMethod?\nn.callMethod.apply(n,arguments):n.queue.push(arguments)};\nif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\nn.queue=[];t=b.createElement(e);t.async=!0;\nt.src=v;s=b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t,s)}(window,document,'script',\n'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n fbq('init', '1192059580980274'); \nfbq('track', 'PageView');\n<\/script>#Capricorn #focus #Genel #deal #suitors #pull #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capricorn reiterates its suppo&hellip; <\/p>\n","protected":false},"author":1,"featured_media":32255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[266,15736,15735,265,110,1655,18450,18446,6402,18802],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/32629"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32629"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/32629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/32255"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}