A Step Closer for Eni and Burren
Eni S.p.A. has gained acceptance for its offer of Burren Energy for 52.52%, or 74,114,491 Burren Shares. Eni already owned 24.9% of Burren's existing issued share capital or 35,136,033 shares.
Adding those up, as of Jan. 10, 2008, Eni has either acquired or holds valid acceptances of the offer for 77.42% of Burren's existing issued share capital, or 109,250,524 Burren shares.
Leaving the offer on the table for those who had not yet accepted it, Eni encouraged the rest of Burren's share holders to accept its offer. Eni has declared the offer unconditional as to acceptances.
Additionally, Eni has lowered the acceptance condition for the offer from 90% to 50%.
Operates 11 Offshore Rigs
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Company: Burren Energy more info
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