Bid to rally Dragon Oil minority shareholders for better buyout offer from Enoc | The National:
"Baillie Gifford, an Edinburgh-based fund manager that holds the largest minority stake in Dragon Oil, is trying to rally other minority shareholders to fight for a better buyout offer from Emirates National Oil Company (Enoc).
Enoc, which already owns 54 per cent of Dragon Oil, last week formally launched a 750 pence-per-share tender offer for the remaining 46 per cent, an offer that will close on July 30 under the rules of the Irish Stock Exchange, where Dragon Oil is listed.
Enoc needs a majority of the minority shareholders – just more than 23 per cent – to vote in favour of its offer to be able to delist the shares and take the company private."
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