Hints and tips:
...Italy’s Eni, which was at the time in advanced talks with Burren, eventually bought the company for £1.7bn....
...Addax, dual-listed in London and Toronto with a market capitalisation of C$5.6bn, (£3.1bn) revealed on Monday that it had held “preliminary discussions” about a deal....
...The big corporate event of the day in the UK so far is Burren Energy agreeing to an improved bid from Eni....
...“There was nothing in the emerging markets that was likely to lead to a correction,” says Jeff Chowdhry, head of emerging market equities at F&C Asset Management....
...There were also doubts about whether it could afford C&W. The shares finished up 1.1 per cent at 118¾p as the story ran out of steam....
...Mid-cap oil explorer Burren Energy put on 2.7 per cent to 846p after Merrill Lynch initiated coverage of the stock with a “buy” recommendation....
...C&W has a substantial cash pile of £1.3bn, but traders thought C&W chief executive Francesco Caio was more interested in developing the Bulldog broadband service....
...Burren can increase its holding to 51 per cent through an option and tender offer....
...Elsewhere among the mid-cap E&P stocks, Tullow Oil fell 1.8 per cent to 136.5p and Burren Energy lost 1 per cent at 450p....
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