Dragon quest heats up as ENOC battles shareholders

The battle for control of Dublin-listed explorer Dragon has stepped up a gear, with the Emirates National Oil Company (ENOC) fighting back against some shareholders who are holding out for a better takeover price.

ENOC has hired Bank of America to help it secure the remaining shares in the company that it doesn’t own, as several large shareholders question the offer price.

Dublin fund manager Setanta Asset Management and Britain’s Baillie Gifford have ...