FalkLand Oil and Gas (fka FLKOF)

[1derrick_2015]

Falkland Oil and Gas to Merge with Rockhopper

Falkland Oil and Gas Limited (FOGL) and Rockhopper have reached an agreement for a recommended all-share merger, pursuant to which the current shareholders of Rockhopper will own approximately 65% of the combined group's issued share capital and FOGL shareholders will own approximately 35%.

The merger values the entire issued and to be issued share capital of FOGL at approximately £57.1 million (US$86.5 million), and each FOGL Share at 10.70 pence, which is 11% premium to FOGL's closing share price of 9.60 pence on 23-Nov-2015. As per the merger agreement, FOGL shareholders will receive 0.2993 Rockhopper shares for each FOGL share....

For more: http://www.1derrick.com/falkland-oil-and-gas-to-merge-with-rockhopper/16998/