Emerald Energy admits takeovers talks
British E&P company says it has received approach from unnamed suitor
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The UK based oil exploration company Emerald Energy has announced that it has received an approach from an unnamed third party that has expressed an interest in making a possible cash offer for the entire issued share capital of the company.
In a statement released to the press Emerald said that the discussions "are at a preliminary stage" and gave no assurances that any transaction would be forthcoming.
Emerald has some interests in the Middle East, specifically in Syria where it operates the Khurbet East field.
Shares in the company have risen to a 10-year high on news of the bid.