# DNO Raises Capricorn Takeover Offer

> Norwegian oil firm DNO boosts Capricorn takeover bid to $396m cash deal.
- Title: DNO Raises Capricorn Takeover Offer · Yahoo Finance | Shortify
- Summary: Norwegian oil firm DNO boosts Capricorn takeover bid to $396m cash deal. DNO increased its cash offer for Capricorn Energy to $396m, valuing the company at…
- Keywords: dno, capricorn energy, uk-listed, takeover, cash deal, kurdistan region, genel energy, bidco, lambert energy, q4 2026, q1 2027, business
- Source: Yahoo Finance — https://finance.yahoo.com/markets/stocks/articles/dno-raises-capricorn-takeover-offer-151903407.html
- Published: 2026-09-17T15:19:03+00:00
- Read time: 1 min
- Topics: dno, capricorn energy, uk-listed, takeover, cash deal, kurdistan region, genel energy, bidco, lambert energy, q4 2026, q1 2027, business
## DNO and Capricorn
Norwegian oil company DNO has agreed to revised terms for its proposed takeover of UK-listed Capricorn Energy, increasing the offer to $5.214 in cash for each share and valuing the company at $396m.
## Revised Offer Terms
The revised proposal replaces an earlier structure that offered $4.224 in cash per share plus a proposed special dividend of $0.99.
## Cash Payment Mechanism
Under the new terms, shareholders will receive the full acquisition value directly in cash from DNO's Bidco subsidiary.
## Dividend Certainty
The companies said the revised arrangement would provide greater certainty of value because it would not depend on Capricorn being able to declare and pay the proposed dividend before the transaction becomes effective.
## Share Price Premium
It represents a premium of roughly 46% to Capricorn's closing share price of £2.66 on 10 March 2026, the day before the offer period began.
## Comparison to Genel
DNO's proposal increases the implied value of Capricorn by around $36m compared with the acquisition value under the earlier offer from Genel Energy, on a constant-currency basis.
## Key takeaway

DNO increased its cash offer for Capricorn Energy to $396m, valuing the company at $5.214 per share with a 46% premium over its share price.