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FINWIRES

NEO NEXT+ Energy to Acquire Deltic Energy in GBP7 Million Cash Deal

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-- Deltic Energy (DELT.L) agreed to a recommended 7.2 million-pound-sterling cash acquisition by the UK-based upstream oil and gas business NEO NEXT+ Energy at 0.077 pounds per share.

Under the deal, NEO NEXT+ will acquire the entire issued and to be issued share capital of the natural resources investor on a fully diluted basis, according to a Thursday filing.

The offer represents a 156.7% premium, and NEO NEXT+ has agreed to provide an up to 2.9 million-pound bridging loan to Deltic to refinance existing debt.

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