Deals
Qatar’s Al Mirqab Offer Values Heritage Oil at $1.55 Billion
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Al Mirqab Capital SPC, a company controlled by Qatar’s royal family, made a cash offer valuing Heritage Oil Plc at 924 million pounds ($1.55 billion).
The offer of 320 pence a share, recommended by Heritage’s board, is a 25 percent premium to yesterday’s closing price, Heritage said today in a statement. Heritage today reported a profit of $100.4 million for 2013 on sales of $431.9 million.