95% of readers think Dragon Oil is undervalued
Massive majority of people polled believe ENOC's Dragon offer too low
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A massive 95% of people who took part in an ArabianOilandGas.com poll regarding the proposed takeover of Dragon Oil by Emirates National Oil Company (ENOC) believe that the exploration and production company is being undervalued.
In the poll 151 people (95%) believed that Dragon was being undervalued while seven (4.4%) thought it wasn’t and one (0.6%) was not sure.
The results reflect the massive amount of feedback ArabianOilandGas.com has received from irate investors regarding the acquisition.
ENOC has made an offer of GBP 4.55 per share for the 49% of Dragon Oil that it does not currently own. The offer has been met with fierce resistant from shareholders who believe that the company is worth considerably more.