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Finance

Genel Energy and Capricorn agree terms to higher $436 million deal, topping rival DNO bid

Published by Global Banking & Finance Review

Posted on September 25, 2026

1 min read

· Last updated: September 25, 2026

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Genel Energy Tops DNO With $436 Million Offer for Capricorn Energy

Genel Energy Tops DNO With $436 Million Offer for Capricorn Energy

Genel Energy Raises Bid in Competitive Takeover Battle

Background of the Bidding Contest

Sept 25 (Reuters) - Britain's Genel Energy raised its recommended cash offer for Capricorn Energy on Friday, trumping a bid from Norwegian producer DNO ASA in a months-long bidding contest that has seen Capricorn's board switch allegiances twice.

Details of the Latest Offer

Market and Board Reactions

(Reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips)

Key Takeaways

  • Genel’s enhanced offer values Capricorn at ~$4.74 per share, including a $0.99 special dividend, indicating a premium over prior pricing (investegate.co.uk)
  • DNO ASA had earlier submitted an all‑cash proposal including full acquisition value, but Genel’s revised terms surpassed it (dno.no)
  • Capricorn’s board has shifted its recommendation twice during the months‑long contest, reflecting the evolving competitive dynamics (dno.no)

References

Frequently Asked Questions

What is the value of Genel Energy's latest offer for Capricorn Energy?
Genel Energy's latest recommended cash offer for Capricorn Energy is $436 million.
Which company made a rival bid for Capricorn Energy?
Norwegian producer DNO ASA made a rival bid for Capricorn Energy.
How many times has Capricorn's board switched allegiances during the bidding process?
Capricorn's board has switched allegiances twice during the current bidding contest.
Who reported and edited the news of Genel Energy's increased offer?
The news was reported by Yamini Kalia in Bengaluru and edited by Sherry Jacob-Phillips.

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