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UK explorer Venture spurns hostile takeover offer from Centrica.

Publication: The Oil Daily
Publication Date: 14-JUL-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: UK explorer Venture spurns hostile takeover offer from Centrica.(Venture Production PLC acquired Emerald Energy PLC)

Article Excerpt
Two major shareholders in UK independent Venture Production came out Monday in support of management in rejecting a [pounds sterling]1.3 billion ($2.1 billion) hostile bid launched by compatriot Centrica late Friday.

The move is part of a flurry of consolidation activity that on Monday saw UK explorer Emerald Energy announce it had received a takeover approach. The mid-cap company, which has assets in Syria, Colombia and Peru, said talks on a possible cash offer are at an early stage.

The Centrica...



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