Norwegian energy firm DNO has warned takeover target Faroe Petroleum that it will not give up its pursuit of the North Sea oil producer. Norwegian energy firm DNO has warned takeover target Faroe Petroleum that it will not give up its pursuit of the North Sea oil producer. DNO warns Faroe it will not give up as takeover tussle continuesDNO, which is pursuing a £608 million hostile takeover of Faroe, gained the backing of just 13% of investors for the deal on Wednesday. Faroe shares were up 4.7% at 153p in afternoon trade. To succeed in its pursuit, DNO requires more than 57.5% of investors to back the deal.

Source: Irish Independent January 03, 2019 13:52 UTC