EL7.AI
Mergers & AcquisitionsMediumUpdated×2•Originally published 25 September 2026•Updated 25 September 2026•
1 min read

Genel Energy Raises Capricorn Energy Bid to $436 Million

Key Facts

1Genel Energy raised its recommended cash offer for Capricorn Energy to $436 million.
2The new offer tops a rival bid from Norwegian producer DNO ASA in a months-long bidding contest.

Genel Energy raised its recommended cash offer for Capricorn Energy to $436 million. Reuters reported that the new bid tops a rival offer from Norwegian producer DNO ASA following a bidding contest that has lasted for several months. The increased valuation allowed Genel Energy to successfully secure a recommendation from the target company's board.

The move follows a shift in support from Capricorn's board between the two suitors, with Genel's higher offer aimed at finalizing the acquisition. In broader energy sector data, the API Crude Oil Stock Change report on September 22, 2026, showed an increase of 1.786 million barrels in inventories, following a previous build of 7.14 million barrels.

Latest Updates · 2

  1. Notable·

    Update: Capricorn Energy shares surged to a 15-year high following the news that Genel Energy’s bid surpassed the rival offer from DNO. The record stock price reflects market optimism as the bidding war appears to move toward a resolution in favor of the higher valuation.

  2. Notable·

    Update: New data specifies that Genel Energy's cash offer equates to $5.74 per share for Capricorn Energy. This figure represents the specific valuation underpinning the total $436 million acquisition bid that secured the board's recommendation.