Ithaca surges as more parties show interest
Shares in AIM-listed oil firm Ithaca Energy jumped higher after the firm said that it has attracted more interest, following a non-binding proposal received on two months ago.
Shares in AIM-listed oil firm Ithaca Energy jumped higher after the firm said that it has attracted more interest, following a non-binding proposal received on two months ago.
Ithaca said today that it has since the initial proposal made on January 23rd, it has received unsolicited interest from a number of third parties.
The firm now plans to enter into discussions with these parties in an effort to maximise shareholder value.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
All discussions are at a preliminary stage the firm said.
Shares were 16% higher at 203p in mid-morning trade, compared with last night's closing price of 175p. Prior to the announcement in January, the shares were trading around the 135-140p level.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Water bills set to rise by 21% a year – how to cut costs
Households could see their water bills soar by roughly 21% annually, but suppliers warn it’s not enough to address essential repairs.
By Oojal Dhanjal Published
-
Should you invest in Canada?
Canada presents a compelling opportunity for investors who want to look beyond the US. Greg Eckel of Canadian General Investments highlights four favourites
By Greg Eckel Published