Summary
CENTRICA, the British Gas owner embroiled in a hostile takeover battle for Venture Production, yesterday said it had received valid acceptances in respect of 16,266,374 shares, representing 10.9per cent of the current issued share capital of the North Sea oil and gas independent, writes Mark Smith.
The company, which also operates under the Scottish Gas brand and wants to boost its gas production and reduce its dependence on volatile wholesale markets to help supply its 15.5 million gas and electricity customers in the UK, has been stalking Venture for months and already owns 29.9per cent of its target.See the full content of this document
Extract
Centrica's Venture Acceptances Above 40per Cent
Centrica, which yesterday also said its offer was being extended and that it would remain open until the second closing date on August 28, added that it now had acceptances with respect of 40.8per cent of Venture's issued share capital - or 35.2per cent on a diluted basis....
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