Tuesday, January 15, 2019
Ophir Energy rejected Indonesian oil and gas firm, Medco Energi Internasional’s potential buyout offer, saying it ‘undervalues’ the British energy company.
In an unsolicited approach, Medco offered roughly $437 million for the independent oil and gas firm. The offer, which was all cash, would have added to Medco’s holdings in southeast Asia and in Africa.