Rockhopper, a UK-headquartered upstream company, said on Tuesday that Falkland Oil & Gas shareholders would be issued around 0.3 of Rockhopper stock for each of their Falkland shares.
This would amount to an 11-percent premium on Falkland’s closing shares on Monday, Rockhopper said. Following the announcement, these shares were up more than 6 percent on Tuesday.
Chairman of the UK company Pierre Jungels said Rockhopper now has “the largest regional acreage position and most discovered resources, coupled with a strong balance sheet.”
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