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UK's Capricorn Energy says deadline for takeover offer from Saudi's Cafani unit extended

Published by Global Banking & Finance Review

Posted on May 6, 2026

1 min read

· Last updated: May 6, 2026

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Capricorn Energy Takeover: Cafani Group's Offer Deadline Now Extended to June 3

Capricorn Energy Receives Extended Takeover Offer Deadline

May 6 (Reuters) - Britain's takeover panel has extended a deadline for Alamadiyaf al‑Masiyyah, the Cafani Group-affiliated investment vehicle, to decide whether it will make a formal offer for Capricorn Energy, the UK-based oil producer said on Wednesday.

Key Details of the Takeover Extension

Here are some details:

Revised Offer Deadline

• Capricorn said Saudi-based Alamadiyaf al‑Masiyyah must now either a make a formal takover offer for the company by June 3 or walk away, under British takeover rules.

Previous Deadline and Extensions

• The extension follows an earlier move on April 8 when the original "put up or shut up" deadline was pushed to May 6.

Funding Progress

• Capricorn said Alamadiyaf al-Masiyyah continues to report progress over its funding arrangements.

Takeover Proposals

• In March, Capricorn said it had received multiple unsolicited, non-binding takeover proposals from the group for a possible all-cash acquisition, though no financial terms were disclosed.

Market Reaction

• Capricorn shares were down 1.9% at 312 pence per share by 0757 GMT.

Reporting Source

(Reporting by Neeshita Beura in Bengaluru)

Key Takeaways

  • The “put up or shut up” deadline for Alamadiyaf al‑Masiyyah to table a firm offer has been extended from May 6 to June 3, 2026 (tipranks.com).
  • The extension reflects ongoing developments in the bidder’s funding arrangements under the oversight of the UK Takeover Panel (tipranks.com).
  • Capricorn remains in an official offer period, meaning enhanced disclosure rules under the UK’s Takeover Code are in effect, and shareholders are advised to await further updates (tipranks.com).

References

Frequently Asked Questions

Who is attempting to acquire Capricorn Energy?
Alamadiyaf al‑Masiyyah, an investment vehicle affiliated with Saudi's Cafani Group, is considering a takeover of Capricorn Energy.
What is the new deadline for Cafani Group's formal takeover offer?
The UK takeover panel has extended the deadline to June 3 for Cafani Group to make a formal offer for Capricorn Energy.
Has Cafani Group made a formal offer for Capricorn Energy yet?
No, as of May 6, Cafani Group has not made a formal offer but has submitted multiple non-binding proposals.
Why was the takeover offer deadline extended?
The deadline was extended to give Cafani Group's investment vehicle, Alamadiyaf al‑Masiyyah, more time to arrange funding.
How have Capricorn Energy's shares performed during the takeover talks?
On May 6, Capricorn Energy shares were down 1.9% at 312 pence per share.

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