Tullow Oil confirmed on Thursday that it is in preliminary talks with Kosmos Energy about a possible all-share offer for the oil and gas exploration company.
Source: Sharecast
In a brief statement responding to recent press speculation, Tullow said there can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.
"A further announcement will be made as and when appropriate," it added.
Tullow shares closed up 6.2% at 26.14p.
Under UK takeover rules, Kosmos has until 1700 GMT on 9 January 2025 to either announce a firm intention to make an offer or walk away.
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.