DNO Raises Capricorn Energy Offer To Approx $396 Mln In Revised Deal

(RTTNews) - DNO ASA (DNO.OL), a Norwegian oil and gas company, on Thursday announced a revised recommended all-cash offer to acquire Capricorn Energy plc (CNE.L, CRNCY). Under the revised offer, Capricorn shareholders will receive $5.214 in cash per share, implying a value of approximately $396 million for the entire issued and to be issued share capital. The revised offer represents a premium of approximately 46% to Capricorn's closing price of 266 pence on March 10, and 61% to its three-month volume-weighted average price. The revised offer improves the terms of the company's original offer. The original offer comprised $4.224 in cash per share plus a $0.99 special dividend.