M&A NEWS

Genel tops DNO with £330m Capricorn offer

A revised cash bid ends a short contest for the North Africa-focused explorer.

M&A News deals deskEnergy · UK25 Sept 2026

Genel Energy on 25 September made a revised recommended cash offer for Capricorn Energy worth about £330m. The bid replaced a rival £294m proposal from DNO announced on 1 September.

Capricorn Energy website: capricornenergy.com

Market context

The contest followed DNO's own lapsed approach for Genel, which it abandoned on 4 September. Capricorn shareholders had earlier approved a smaller Genel scheme before DNO intervened.