Ithaca Energy to buy Valiant Petroleum for 203 mln stg
01/03/2013 07:02
March 1 (Reuters) - North Sea-focused Ithaca Energy Inc IAE.L IAE.TO said it would acquire Valiant Petroleum Plc VPP.L for 203 million pounds ($308.15 million) in cash and shares. Valiant shareholders will get 307 pence in cash and 1.33 Ithaca share for each Valiant share. ID:nRS28mhD4 The offer represents a premium of 37 percent to Valiant's Thursday close on the London Stock Exchange. British oil and gas company Valiant Petroleum, which has had a dismal exploration performance in 2012, said in September it was considering selling itself. ID:nL4E8K61OU ($1 = 0.6588 British pounds) (Reporting by Karen Rebelo in Bangalore; Editing by Don Sebastian) ((karen.rebelo@thomsonreuters.com)(within UK +44 20 7542 1810)(outside UK +91 80 4135 6102)(Reuters Messaging: karen.rebelo.thomsonreuters.com@reuters.net)) Keywords: ITHACAENERGY VALIANTPETROLEUM/