Dragon Oil is to ask the Irish Takeover Panel to issue an ultimatum to the oil explorer's largest shareholder, Emirates National Oil Company (Enoc), to make a bid for the company or walk away, the Sunday Times said.
The newspaper said the group would request a "put up or shut up" ruling from the panel within the next 10 days if Enoc does not come forward with an offer.
Dubai state-owned Enoc said in June it was considering making an offer at a "modest premium" to secure control of Dragon Oil, in which it already owns 52 percent.
No one at Dragon Oil was immediately available to comment.END
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