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Centrica eyeing hostile Venture bid
BRITISH Gas-owner Centrica is understood to be on the verge of tabling a hostile bid for oil and gas company Venture Production after it was given a "put up or shut up" deadline of 13 July by the Takeover Panel last week.
It is understood that Centrica is prepared to pay 850p a share for the rest of the group, but Venture is said to be holding out for 950p a share. Venture reported a doubling in operating profits to 231.1 million in March on higher volumes and commodity prices.
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Friday 25 May 2012
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