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OGJ Newsletter

08/24/2009
General Interest — Quick Takes  Venture dismisses Centrica's final offer deadlineVenture Production PLC again rejected the £1.3 billion cash takeover bid from Centrica Ltd., despite a deadline extension to Aug. 28 to buy shares in the company.Venture said the offer undervalued the company and urged shareholders not to sign any documentation relating to Centrica's deal. It called on Centrica to offer a "fair price" for its unique portfolio in the UK North Sea.Centrica received valid acceptances representing 40.8% of the issued share capital of Venture. It has shown an interest in the company for months and has obtained 29.9% of it.A report compiled by Resour...
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