Faroe Petroleum

North of Scotland

Faroe urges shareholders to snub ‘opportunistic’ DNO bid

November 27, 2018

Bosses at Faroe Petroleum urged investors to snub a hostile takeover offer from Norwegian oil firm DNO and hold onto their shares. Aberdeen-headquartered Faroe said the unsolicited, £444m bid was “opportunistic and substantially undervalued” Faroe. The London-listed firm encouraged shareholders to take no action. >> Read more on Energy Voice here <<