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Ophir rejects Medco’s $437 million potential takeover bid

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UK-listed Ophir Energy rejected a potential takeover offer from Indonesia’s privately owned Medco Energi Global, saying the $437.1 million bid undervalues the company. Asia and Africa-focused Ophir confirmed Jan. 12 that it received the offer in late December. Medco’s proposal was not a firm offer, and it had until Jan. 28 to either make it so or withdraw the bid.Medco reduced its offer price for the second time since October to 48.5 pence per......
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