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

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 CNE.L, the UK-based oil producer said on Wednesday.

Here are some details:

  • 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.

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

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

  • 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.

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


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