Faroe Petroleum takeover bid extended
- Published
A takeover bid for Aberdeen-based oil and gas firm Faroe Petroleum has been extended.
Norwegian firm DNO - the company's largest shareholder - launched the takeover last month.
The offer of 152p per share has now been extended to 18 January after Wednesday's deadline passed.
Faroe chairman John Bentley said the valuation "substantially undervalues" the company, which has operations in the UK, Ireland and Norway.
DNO said its offer is "full and fair, even generous".
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