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Capricorn Energy Agrees to $396 Million Takeover Offer from DNO Bidco

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Capricorn Energy (CNE.L) said Tuesday that it agreed to the oil and gas operator DNO (DNO.OL) unit DNO Bidco's $396 million takeover offer.

Under the agreement, the energy production company's shareholders will receive a cash payment of $5.214 per share held, comprising $4.224 in cash and a special dividend of $0.99 per share.

The transaction, which will be done via a Scottish scheme of arrangement, is expected to be finalized by the fourth quarter of 2026 or the first quarter of 2027, subject to conditions.

The company received and agreed to a previous offer from oil producer Genel Energy (GENL.L). However, company directors said that DNO's offer had a superior value compared to Genel's.

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