South Korea Takes Over U.K.’s Dana Petroleum
After two attempts to acquire European oil and gas explorers, Korea National Oil Corp. shed its conservative image in August by launching a £1.9 billion ($2.98 billion) hostile bid for U.K. driller Dana Petroleum, and succeeded.
Neil Sen
October 29, 2010
The Babbage platform owned by Dana Petroleum Plc., is seen in this undated handout photograph released to the media on Thursday, Aug. 12, 2010. Dana Petroleum Plc, the U.K. explorer focusing on North Sea and Africa, said it can't recommend a 1.7 billion-pound ($2.7 billion) takeover offer from Korea National Oil Corp., which is unwilling to raise its offer. Source: Dana Petroleum via Bloomberg EDITOR'S NOTE: EDITORIAL USE ONLY. NO SALES.
via Bloomberg
