$0MHP.L

DNO Keeps Door Open for Genel Energy Takeover Following Initial Proposal Rejection

DNO (DNO.OL) said Friday it remains willing to continue engagement with Genel Energy's (GENL.L) board after the latter rejected its indicative takeover offer of 202 million pounds sterling.The Norwegian oil and gas operator floated a possible cash offer of 0.69 pound per share in cash, with a cash-and-share alternative, for the London-listed energy company.The proposal was rejected on Tuesday, and DNO has until Sept. 4 to finalize its decision regarding an offer for Genel Energy.