Deals
Capricorn Sticks With NewMed Merger Despite Mounting Opposition
Oil rig Norway in the North Sea
Photographer: Carina Johansen/BloombergThis article is for subscribers only.
Capricorn Energy Plc. is standing firm behind its merger with Israel’s NewMed Energy LP despite investors holding more than a third of its stock coming out against the planned deal and creating a significant hurdle for its approval.
“This transaction delivers our shareholders a substantial capital return, along with an ongoing stake in a differentiated UK-listed company, shaped for the future of the energy industry,” Capricorn said in an emailed statement.