Dragon Oil shares soar to record high on improved Enoc offer - FT.com:
"Shares in Dragon Oil jumped more than 8 per cent to a record high in early trade on Monday after the Emirates National Oil Company (Enoc) sweetened its offer to buy out minority shareholders at the crude producer by just over 2 per cent, valuing the company at £3.7bn.
Enoc, which owns 54 per cent of Dragon, improved its offer to 750 pence a share compared with the initial proposal of 735 pence a share put forward in March.
The improved offer represents a 47.2 per cent premium to Dragon’s closing stock price of 509.5p on March 13, the last trading day before Enoc approached the crude producer about its intention to make an offer. The initial premium was 44 per cent."
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