KNOC bid for Dana hits the buffers

first_img whatsapp Show Comments ▼ KNOC bid for Dana hits the buffers Oil explorer Dana Petroleum takeover talks had stalled after Korea National Oil Corp (KNOC) said it was unwilling to raise its offer and refused to sign a confidentiality agreement.Dana said senior board members had met with state-owned KNOC on 6 August following a £1.67bn approach for Dana last month.Dana said in a statement that it had offered to open its books for due diligence but that KNOC had refused to sign a non-disclosure agreement.“KNOC’s refusal to sign a non-disclosure agreement leaves the Dana board with no way of progressing confidential discussions with KNOC,” Dana said.“The board of Dana looks forward to clarification from KNOC regarding its current intentions in connection with its proposal.” Share John Dunne Thursday 12 August 2010 5:58 am whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot Tags: NULLlast_img