Petroceltic: we’re open to takeover bids
Exploration company Petroceltic will consider any takeover offers as it looks to end a dispute with its largest investor ahead of a crunch shareholder meeting next week.
Petroceltic shares rose briefly last week on speculation that Dragon Oil may launch another bid for the company, having seen an earlier attempt fail. Dragon said under takeover panel rules it was prevented from bidding again for a year.
But Petroceltic chief executive Brian O’Cathain says he’s open to offers for the company.
“Would we be happy to talk to Dragon again. Our company is always up for sale,” O’Cathain told...
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