Emirates National Oil Company (ENOC) has agreed to make a cash offer of £7.50 per share for the 46 per cent of Dragon Oil it does not already own, valuing the exploration company at around £3.7 billion (€5.1 billion).
The offer, which is worth £1.7 billion, has been recommended by an independent committee of the board of Dragon Oil which said it reflects "the achievements and future prospects of the Dragon Oil Group and offers Dragon...
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