Genel Energy has increased its recommended cash offer for Capricorn Energy to $5.74 per share, valuing Capricorn at approximately $436 million. This new offer surpasses rival DNO's bid by about 10%, leading Capricorn's board to withdraw its support for DNO and back Genel's proposal. Genel has secured commitments for 39.1% of Capricorn's shares and obtained necessary shareholder approvals. The deal awaits final regulatory clearance from Egypt's competition authority, with completion expected in Q4 2026. Genel is funding the acquisition through existing resources and new debt.
Genel Energy's increased takeover offer for Capricorn Energy is the focus, with Pluang data showing that among 38 priced Energy-sector US stocks, 13 rose and 23 fell today. Notable movers include XOM at USD 160.73 with a 0.81% decline and 75% buy order activity, CVX at USD 203.95 down 0.79% with 89% buy activity, and SU at USD 68.50 up 0.76% with 100% buy activity. This snapshot is as of Sep 25, 2026 14:21 WIB.
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