Capricorn Energy
CNE · Main Market · Energy · mcap £293m · 424.0p 1 open situation →
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Takeover target
Competing offers for the company
offer
Genel agreed a recommended offer on 2 Jul 2026. DNO's rival offer followed on 1 Sep 2026 (revised 17 Sep 2026). Genel raised its offer to US$5.74 (434p) on 25 Sep 2026 and the board withdrew its DNO recommendation. On 16 Oct 2026 the DNO Court Meeting and General Meeting were adjourned indefinitely, leaving the Genel scheme as the only one proceeding.
- Board view
- Directors recommend the Increased Genel Offer; DNO Offer recommendation withdrawn 16 Oct 2026 ↗
- Conditions
- Egyptian Condition is the only outstanding regulatory condition 16 Oct 2026 ↗
- DNO structure
- DNO will not elect to implement its offer by means of a contractual offer 28 Sep 2026 ↗
- Irrevocables
- Genel Bidco has irrevocables over about 39.1% of Capricorn's issued share capital 16 Oct 2026 ↗
- Shareholder votes
- No further Court Meeting or General Meeting needed; 18 Aug 2026 votes had over 99% support 2 Oct 2026 ↗
- Timetable
- Genel Scheme expected to become Effective in Q4 2026 16 Oct 2026 ↗
Next: Egyptian Condition satisfied; Genel Scheme to become Effective
- 16 Oct 2026 recommendation withdrawn
- 16 Oct 2026 offer
- 25 Sep 2026 offer · 434p by Genel Energy
- 17 Sep 2026 offer · 388p by DNO
Closed · 3
Company filings. Not investment advice.