Heritage Oil rejects £1.2bn takeover bid
Oil: in January shares in Heritage lost more than a quarter in their value
11 April 2012
Heritage Oil has rejected a £1.2 billion takeover bid from a Middle Eastern company, reports said today.
The Abu Dhabi-based suitor, whose name is not known, recently sent Heritage management a letter offering to pay 425 pence per share, the Financial Times said, citing a source familiar with the situation.
The FTSE 250-listed company rejected the offer as too low, the paper added.
