UK's Genel Energy rises after rejecting DNO's $271.7 million takeover proposal

DNO ASA

07/08/2026 08:08

** Shares of Kurdistan-focused oil and gas producer Genel Energy GENL.L gain 13.5% to 56.7p
** GENL rejected Norwegian oil firm DNO's DNO.OL £202 million ($271.73 million) or 69 pence per share takeover proposal
** DNO's possible bid was at 35.3% premium to GENL's closing price on July 27, the day before the proposal was tabled
** YTD, GENL down 16%

($1 = 0.7434 pounds)

 (Reporting by Megha Anilkumar Nair in Bengaluru)
 ((MeghaAnilkumar.Nair@thomsonreuters.com;))