Israel’s Delek Group said it had offered $524 million for the 80 percent of shares in Canadian oil producer Ithaca Energy Inc it does not already own in an agreed takeover bid.
North Sea producer Ithaca said its board had recommended the Israeli conglomerate’s cash offer of C$1.95 per share.
The offer, which represents a premium of about 12 percent to Ithaca’s closing price of C$1.74 on Friday, implies an enterprise value of about $1.24 billion, Ithaca said.
Delek, with natural gas exploration and production activities in the eastern Mediterranean, already owns 19.7 percent of Ithaca. The bid values the entire company at $646 million.
By Noor Zainab Hussain and Tova Cohen
Source: Reuters
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
