Faroe Petroleum's suitor fails in equity takeover attempt
Despite massive resistance from Faroe Petroleum's board of directors, the interested party, DNO, has acquired around 43 percent of the former's equity. However, that is far from enough to secure a takeover.
It comes to the displeasure of Faroe Petroleum's board of directors that competing oil outfit DNO has now acquired a substantial stake in the independent oil company.
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