{
  "id": 9726534,
  "title": "Capricorn Energy soars to 15-year high as Genel outbids DNO in takeover battle",
  "url": "https://urgent.news/2026/09/25/capricorn-energy-soars-to-15-year-high-as-genel-outbids-dno-in",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T07:36:00.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/capricorn-energy-soars-to-15year-high-as-genel-outbids-dno-in-takeover-battle-4916774"
  },
  "original_language": "en",
  "account": "Shares of Capricorn Energy reached a peak not seen since August 2011 on Friday, following a surprise bid from Genel Energy. The Nigerian company raised its offer to $436 million, surpassing rival DNO and gaining crucial support from Capricorn’s board. This development marks the end of a months-long bidding war between the two energy giants, with Capricorn's board vacillating in its recommendation twice. Capricorn's Western Desert assets have become an attractive target for energy companies seeking a presence in Egypt's upstream sector, drawing simultaneous interest from both Genel and DNO. The London-listed energy firm's shares climbed 11.9% to 442 pence in early trading, briefly reaching 445 pence before settling.\n\nGenel Energy initially presented a $360 million bid for Capricorn in July, but DNO swiftly countered with a more substantial offer of $396 million earlier this month. In response, Capricorn's board revoked its approval for DNO's proposal and now wholeheartedly supports Genel's proposal. Under the revised terms, Capricorn shareholders will receive roughly $5.74 per share, comprising $4.75 in cash and a $0.99 special dividend, representing a 10% premium over DNO's bid.\n\nThe board's endorsement of Genel Energy's offer comes with the added benefit of strong backing from several key shareholders, including Palliser Capital, Newtyn Management, Kite Lake Capital, and Madison Avenue Partners. These influential investors have committed to approximately 39.1% of Capricorn's issued share capital, bolstering the legitimacy and viability of Genel's bid.",
  "summary": null,
  "key_points": [
    "Capricorn Energy shares hit 15-year high at $436 million offer",
    "Genel Energy outbids DNO with $436 million bid",
    "Board endorses Genel's offer with 39.1% shareholder support"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Genel Energy raises Capricorn bid to $436 million, tops DNO",
        "url": "https://urgent.news/2026/09/25/genel-energy-raises-capricorn-bid-to-436-million-tops-dno",
        "published": "2026-09-25T06:52:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}