Oil explorer Regal Petroleum said it was in final stage talks for a takeover which would value it at 76 million pounds ($120.4 million), boosting shares in the troubled company.
Ukraine-focused Regal, which said in November it was involved in preliminary discussions with a number of parties after receiving approaches, said on Friday the talks were for a possible cash offer at a price of 24 pence per share.
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Source: Reuters
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