385

Ophir Energy’s board said on 30 January it had agreed to a revised 55p/share bid from Indonesia’s Medco Energi, valuing the company at £390.6m ($500m). London-based Ophir said the offer represented a premium of 65.7% to the closing price of 33.2p on 28 December before the approach was made public. Ophir in mid-January rejected a bid from Medco at 48.5p/share.