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DNO makes move for Faroe

DNO makes move for Faroe

As most North Sea watchers predicted, Norwegian oil firm DNO has made its bid for Faroe Petroleum (FPM), and the the 72 per cent of the company it doesn’t already own. The all-cash offer values Faroe at £608m, or 152p a share, and comes at a 20.8 per cent premium to the Alternative Investment Market group's undisturbed share price.

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