Faroe Petroleum relents and accepts DNO's final offer

摘要

Faroe Petroleum's board has relented to DNO final offer to take over the UK independent firm after DNO upped its offer to value the Faroe at ￡641.7million and increased its hold of shares to to 52.44 per cent, making the offer unconditional. Over December Faroe Petroleum's board has resisted the takeover bid from DNO saying that it initially had not offered fair value.