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FINWIRES

Blue Concept Faces Final Deadline on Deltic Energy Takeover Offer

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The UK's Takeover Panel ruled that Norwegian company Blue Concept has until June 17 to either make a firm offer for natural resources investor Deltic Energy (DELT.L) or walk away, according to a Tuesday filing.

In April, three companies, Capricorn Energy (CNE.L), Mohammed Al Barwani LLC unit Petrogas International E&P Coöperatief, and Blue Concept, separately approached Deltic Energy regarding possible cash takeover offers.

However, Deltic Energy agreed to be acquired by UK-based upstream oil and gas business NEO NEXT+ Energy. Capricorn Energy and Petrogas have already withdrawn their plans.

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