80 Mile Agrees to £61.5M All-Share Takeover by Greenland Energy

Key Facts

180 Mile agreed to indicative terms for a £61.5 million all-share takeover by Nasdaq-listed Greenland Energy Company.

2The deal values 80 Mile shares at 1.1p each, representing a 46.7% premium to the closing price before the offer period.

In a move reflecting accelerating consolidation within the natural resources sector, 80 Mile PLC has agreed to indicative terms for a full takeover by Nasdaq-listed Greenland Energy Company. The deal, valued at approximately £61.5 million, is structured as an all-share acquisition. According to reports, the offer values 80 Mile shares at 1.1p each, representing a substantial 46.7% premium over the closing price recorded prior to the offer period.

The merger aims to consolidate interests in the Jameson Land Basin into a single Nasdaq-listed vehicle while integrating 80 Mile’s portfolio of critical minerals and industrial gas assets. Under the proposed terms, 80 Mile shareholders are set to receive 0.01108 Greenland Energy shares for every share held. This follows Greenland Energy increasing its stake in the company to 4.42% through share purchases conducted between August 25 and September 3.

Regarding market performance, the GLND share price stood at $1.37 at the close of September 4, 2026, having traded between a day low of $1.29 and a high of $1.39. Investors are now watching for the finalization of the merger, which will transition these assets to a more liquid trading platform. On the broader economic front, per market data, the Eurozone unemployment rate recently held steady at 6.4%, providing a stable labor backdrop as these corporate restructurings proceed.