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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
