Ophir acquiesces to Medco but takeover hinges on Tanzanian farmout approval

摘要

Ophir Energy has advised its shareholders to accept a revised GBP 390 million(USD 510 million)takeover offer from Indonesian independent Medco,which has been gunning for the firm for months. But the deal hinges on the swift resolution of numerous conditions relating,inter alia,to Tanzanian upstream approvals that seem to have gone unresolved for half a decade.