Genel outbids DNO with $5.74 a share for Capricorn Energy
- Location
- London / Edinburgh · 🇬🇧 United Kingdom
- Sector
- Energy
- Organisations
- Genel Energy plc ↔ Capricorn Energy plc
- Transaction
- Acquisition — increased recommended cash offer (scheme of arrangement)
- Volume
- around USD 436 million
- Status
- announced
On 25.09.2026 Genel Energy raised its offer for Capricorn Energy to USD 5.74 per share (USD 4.75 in cash plus a USD 0.99 special dividend), worth about USD 436m and roughly 10% above DNO's bid (entry b79f2fc4). Capricorn's board withdrew its recommendation of DNO with immediate effect and now backs Genel; irrevocable undertakings cover about 39.1% of the share capital. Egypt's competition authority has already approved the deal, and the scheme is expected to become effective in the fourth quarter of 2026 (Capricorn stock exchange announcement via Investegate, 25.09.2026). Update (19.10.2026): Capricorn confirmed on 16 Oct 2026 that the court meeting and general meeting for the DNO scheme were adjourned indefinitely; the DNO offer is thus moot and the higher Genel offer remains (AJ Bell/Alliance News, 16 Oct 2026).
Source: investegate.co.uk ↗ · Archived copy ↗
Evidence: one source · archived copy saved · How well sourced is Eurotrack?
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