Oil company's management resists DNO's takeover bid

Norwegian oil and gas operator DNO is interested in buying all equity in Faroe Petroleum and earlier today bid 20 percent over trading levels. The latter's share price has since skyrocketed, and Faroe is now urging stakeholders to sit tight.

by SIMON VALEUR

Norwegian oil and gas operator DNO announced in a press statement Monday morning that it wants to buy all equity in Faroe Petroleum at a price per share of GBP 1.52.

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