Salamander Energy’s largest shareholder pushes for Ophir Energy merger
Salamander Energy’s largest shareholder, RS Investment, has pressed the UK-listed oil group to accept Ophir Energy’s merger proposal, The Sunday Times reported. The report did not cite a source for the claim.
Salamander last week confirmed entering discussions with Ophir and a consortium led by the Spain-based oil group CEPSA and Jynwel Capital regarding two potential offers. Ophir has proposed an approximately 105p-per-share all-stock deal which it has been unwilling to revise despite demands from Salamander, the report said.
San Francisco-based RS Investment holds a 14% stake in Salamander and owns almost 10% of Ophir, the report said.
Salamander, which has a market capitalisation of GBP 275m (USD 440m), is believed to have rejected an approximately 145p-per-share offer from CEPSA earlier this year, the item reported. It noted that Salamander shares were trading at 106p by the end of last week.
Source Sunday Times