Deals
Capricorn’s Merger With NewMed at Risk After Board Exits
- NewMed says chance of deal closing has significantly decreased
- Meeting to approve tie-up has been pushed back by Capricorn
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Israel’s NewMed Energy LP said its proposed merger with Capricorn Energy Plc is now less likely to proceed after the UK company ditched a slew of board members and postponed a meeting to approve the deal.
“The probability for the closing of the transaction has significantly decreased,” NewMed said Tuesday, adding that it “did not give any consent to the decisions reported by Capricorn.”