The Dragon Oil Offer - The Dragon Oil Offer:
"Update: An interesting analysis from Makor Capital on ENOC's offer and why they will almost certainly have to improve it.
Makor Capital, Dragon Oil Analysis
Update: Setanta Asset Management is the second institutional holder to reject ENOC's offer. They join Baillie Gifford (who own 7.2% of Dragon Oil's shares) in rejecting ENOC's offer on the basis that the price does not reflect anything like fair value.
Setanta own 3.1% of Dragon Oil's shares, and are the 2nd largest minority holder after Baillie Gifford. This rejection now means that ENOC have failed to gain the support of the 2 largest minority shareholders for this takeover. "
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