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...The irony, claims Maroun Chammas, chief executive of Medco, a fuel importer, is there is no genuine shortage of fuel. “We are low on stock but there are ships waiting to discharge [fuel],” he added....
...But Medco is expensive and risky too, albeit easier for Novartis to digest. Mr Narasimhan’s bet is that Inclisiran, Medco’s cholesterol-squasher, has a bigger market than sceptics forecast....
...This week’s $9.7bn offer from Novartis catapulted shares in US biotech Medco to nearly four times their value a year ago. For early investors, it was a reward for patience....
...Medco and Ophir agreed in January to a 55p a share offer, following a month of speculation over a deal. Ophir’s shares on Thursday were trading up 0.9 per cent at 56.1p....
...Ophir Energy, the UK oil and gas company focused on south-east Asia, has rejected a £343m offer from its Indonesian suitor, Medco Energi....
...Roberto Lorato, Medco chief executive, said: “In Medco’s view, the combined business will hold a more balanced regional portfolio of producing and development assets, better able to withstand macroeconomic...
...Medco has until January 28 to make a formal offer....
...Shares in Ophir Energy were trading up 6 per cent in London at lunchtime on Monday after it said it was in advanced talks with its suitor, Indonesian oil and gas group Medco Energi, with view to agreeing...
...No figure for the potential deal has been released, but under UK takeover rules Medco must make a firm offer by January 28....
...Medco should be able to extract further returns from Ophir’s Indonesian assets. Only a fifth of the Kerendan gasfield, located in Medco’s home territory, has been commercialised by Ophir....
...number of smaller oil and gas companies have disappeared from the London market this year, including Faroe Petroleum, which was taken over by DNO of Norway, and Ophir Energy, which was bought by Indonesia’s Medco...
...And Medco has needed only two of them....
...That was quickly followed by a £408m deal for south-east Asia-focused Ophir Energy by Indonesia’s Medco Energi. The target companies shared little in common when it came to their assets....
...Six years earlier, Mr Cowie had been involved in the $29bn sale of Medco to Express Scripts....
...A subsequent £390m offer for Ophir from Indonesia’s Medco was then opposed by a certain hedge fund, which claimed an unlikely sale of those subscale assets was more feasible....
...Medco’s offer was a small improvement on the 53.8p-per-share proposal it made in late December....
...● Ophir Energy was heading for its biggest-ever daily gain after the explorer said it had been approached by PT Medco Energi, the quoted Indonesian energy and mining business, about a potential cash offer...
...Medco of Indonesia can equally afford to splash out for Ophir, an African specialist. These skirmishes looked like business as usual in exploration and production, lowly oil price notwithstanding....
...The company announced this month that it was the subject of takeover talks by Indonesian oil and gas group Medco Energi....
...Ophir is currently the subject of a potential takeover by Indonesia’s Medco Energi. The board this month rejected a possible £343m offer, saying that it undervalued the company....
...Widodo courts ‘cool factor’ of unicorns to appeal to young voters Indonesian and Malaysian state oil groups ally beyond region Widodo slammed for infrastructure policy in second TV debate Indonesia’s Medco...
...co-operate in event of no-deal Brexit (FT) Greenlane files for IPO in test of market appetite for vaping stocks (FT) SoftBank-backed lender OakNorth triples profits (FT) Hedge fund Petrus to vote against Medco...
...offload almost half of Worldline stake (FT + Lex) Nasdaq launches $770m counterbid for Norway’s main stock bourse (FT) Scor steps up attacks on rival as French insurance spat turns nasty (FT) Indonesia’s Medco...
...Today owner Gannett (FT + Lex) German watchdog deals new blow to Alstom-Siemens rail tie-up (FT) New Look seeks to slash long-term debt in turnround plan (FT) Ophir rejects overtures from Indonesia’s Medco...
...Failure to reach a consensus would result in the sector being left in limbo for another year or two and jeopardise the Medco acquisition. Fiscal pressure?...
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