Kosmos Energy Ltd., a full-cycle deepwater, independent oil and gas exploration and production company, confirmed that it is in very preliminary discussions regarding a possible all-share offer for Tullow Oil plc (TLW.L).
On Thursday, Tullow Oil also had confirmed the news of talks between the parties.
Kosmos Energy and Tullow Oil said that there can be no certainty that any offer will be made, or about the terms on which any offer might be made.
Kosmos said it reserves the right to vary the form and/or mix of the offer consideration and vary the transaction structure. It will make a further announcement as and when required.
As stated by Tullow, Kosmos is required to either announce a firm intention to make an offer for Tullow or announce that it does not intend to make an offer by not later than 5.00 p.m. on January 9.
On Thursday, Tullow Oil shares had gained 5.6% to close the day at 26 pence.
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