From being 25 per cent to the good at the start of the week, our early year 'buy' tip (142p, 19 Jan 2012) Ithaca Energy moved into negative territory after the Canada-based North Sea oil explorer ended weeks of takeover speculation by announcing that it had "ceased discussions with all parties" regarding the potential acquisition of the company. The news obviously didn't sit well with investors – many of whom were obviously expecting a bidding war – and the resultant sell-off drove down Ithaca's share price by nearly a third.
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