80 Mile (80M): Possible offer

This situation live

£49m · 0.9p · +21% since the first step

6 Oct 2026 · approach · −10% since Extension of PUSU Deadline

Takeover target

Possible offer

approach

Every step · 2

8 Sep 2026 approach – The price of approximately 1.1p per 80 Mile Share represents a premium of 42.86% to the prevailing mid-market price. ↗
6 Oct 2026 approach – Extension of PUSU Deadline ↗

What is happening

80 Mile: Possible offer – approach. ['approach']

In short: On 8 Sep 2026 the 80 Mile and Greenland Energy boards agreed indicative all-share terms at about 1.1p per share, valuing 80 Mile at £61.48m. The 16 Sep 2026 interim results confirm the company remains in an offer period and give no new terms. A firm offer needs due diligence and a unanimous independent director recommendation.
Announced: 8 Sep 2026 · approach
Latest: 6 Oct 2026 · update
Offer: 0.01108 new Greenland Energy shares per 80 Mile share; values 80 Mile at £61.48m
Premium: 42.86% to 3 Sep 2026 price; 46.67% to 7 Sep 2026 price; 64.18% to July 2026 placing price
Bidder: Greenland Energy (GLND), Jameson JV partner
Board view: Independent directors Hutchinson and Hofmaier to consider; McIllree is recused as a GLND director and shareholder
Conditions: Confirmatory due diligence, unanimous independent director recommendation, GLND disinterested director approval, no material 80 Mile transactions since 7 Sep 2026
Status: Company remains in an offer period as at 16 Sep 2026

From the company's own announcements. Not investment advice.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

Also at 80 Mile 3 open