Serica Energy plc and Kistos plc today confirmed they would not make an offer to merge as one North Sea oil and gas company. REJECTIONS Serica said that on 12 July, Kistos rejected a possible offer from the company made on 8 July 2022. Serica added that subsequently it had been impossible to reach agreement […]
Tag: Kistos plc
Serica rejects second Kistos merger offer
Serica Energy plc has rejected a new revised cash and share merger offer from Kistos plc for its assets in the North Sea. OFFER Two weeks ago, the exploration and production company rejected the smaller company’s first offer. Kistos revised proposal offers 425 pence per Serica share and is an 11% increase to Serica shareholders […]
Serica fears ‘negative impact’ of Kistos offer
Serica Energy plc said the merger offer from smaller rival Kistos plc would “negatively impact” the combined entity’s balance sheet and growth potential. OPPORTUNISTIC In a detailed statement issued today, the company listed reasons why it had rejected the Kistos offer. Serica said it would be “materially undervalued” and that the proposed merger would not […]
Serica rejects £1bn merger offer from Kistos
Serica Energy plc said it had rejected a proposed £1bn merger comprising cash and shares of its North Sea oil and gas assets with smaller rival Kistos plc. OFFERS “The proposed terms are the same as the terms outlined in a possible non-binding offer made by Kistos on 24 May 2022 that was rejected by […]