US oil company Kosmos Energy has confirmed that it is in “very preliminary discussions” regarding a possible all-share offer for London-listed explorer and production company Tullow.
“There can be no certainty that any offer will be made, nor as to the terms on which any offer might be made,” Kosmos stated.
Kosmos, which has oil and gas assets in the Gulf of Mexico, Ghana and Equatorial Guinea, has until the close of play on 9 January 9 to announce if it plans to make a firm takeover offer.
Shares in Africa-focused Tullow closed 6.2% higher at 26.1p in London on Thursday, giving it a market capitalisation of £381.9 million. Kosmos, which has listings in New York and London, is worth $1.49 billion.
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