UK's Pharos Energy hits over six-year high after Ratio Petroleum raises bid
07/08/2026 08:27
BUZZ-UK's Pharos Energy hits over six-year high after Ratio Petroleum raises bid ** Oil and gas producer Pharos Energy PHARP.L up 6.3% at 33.5p, hitting its highest since February 2020
** Israel-based Ratio Petroleum Energy RTPTp.TA sweetens takeover bid to 32.8p per share, topping Serica Energy's SQZ.L proposal** Pharos board unanimously backs Ratio's offer and urges shareholders to vote in favour of the deal
** Up to Thursday's close, stock had risen 49.3% this year
(Reporting by Simone Lobo & Atharva Singh in Bengaluru)
((Simone.Lobo@thomsonreuters.com, +919920570373))