Ithaca Receives Proposal from Endeavour
Ithaca Energy Inc. confirms that it has received an unsolicited non-binding proposed offer from Endeavour International Corporation to acquire the entire issued share capital of Ithaca for a combination of cash and shares at an indicative price of US$3.25 per Ithaca share.
Ithaca advises that its board of directors will carefully review and evaluate the Non-Binding Proposed Offer consistent with its fiduciary duties and in consultation with its legal and financial advisers. The Board will consider the various terms, conditions and merits of the Non-Binding Proposed Offer in the context of Ithaca's long term strategic plan with a view toward pursuing the course of action which best maximizes shareholder value. The Board will respond once it has completed this process.
- Endeavour Halts Drilling Ops at East Rochelle (Feb 14)
- Endeavour: Transocean Semisub Mobilized to Rochelle Field (Jan 07)
- Endeavour CFO Resigns (Oct 29)
Company: Ithaca Energy more info
- Ithaca Energy Starts Production from North Sea Stella Field (Feb 17)
- Delek Group to Issue Ithaca Energy Takeover Bid for $524MM (Feb 06)
- Ithaca Energy: Stella Production Start-up Delayed (Jan 12)