Petroceltic Could Receive Takeover Offer From Shareholder
Private investment management firm, Worldview Capital Management, announced Friday that it is in the process of evaluating and preparing for a possible, all cash, offer for the entire share capital of Petroceltic International plc.
Worldview is currently a shareholder in Petroceltic, owning approximately 29.6 percent of the company's issued share capital. In spite of its interest in the international oil and gas exploration and production company, Worldview has made it clear that there is no guarantee that an offer will be made for Petroceltic.
Commenting on the potential acquisition of Petroceltic, Worldview said in a company statement:
“Worldview would like to emphasise that its evaluation of Petroceltic is ongoing and there can be no certainty at this stage that any offer for Petroceltic will ultimately be made, nor as to the terms of any such offer should one be forthcoming. This announcement does not amount to a firm intention to make an offer under Rule 2.5 of the Irish Takeover Rules and there can be no certainty that an offer will be made.”
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