Salamander/Ophir
Rumoured value of offer 105p-110p
I have suggested before that eventually someone would come along and take out Salamander Energy. However, I also suggested, when the share price was about 150p, that it might take some time and that the timid might as well take some profits.
In the meantime, the business has been affected by the entirely unexpected fall in the price of oil, which has driven down values across the sector. Salamander’s shares closed last night at 102p, off 4p, after Ophir Energy confirmed last week’s leaked story that it was in talks with the company.
Salamander investors face three scenarios. Ophir, up 4½p at 190p, has not indicated the terms on offer, which would be entirely in shares. The market assumption