KNOC to issue response on Dana bid Thursday: source
SEOUL/LONDON |
SEOUL/LONDON (Reuters) - Korean National Oil Corp (KNOC) KOILC.UL plans to issue its response on Thursday after UK oil explorer Dana Petroleum DNX.L rejected its $2.6 billion unsolicited offer, a source close to the deal said.
On Wednesday, Dana said it was worth much more than KNOC had offered, and unveiled the acquisition of North Sea assets from Canada's Suncor (SU.TO) for 240 million pounds ($371 million), requesting a "proper value discussion" with the South Korean state company.
The source said KNOC, which has said its 1,800 pence a share offer is full and final, was planning to announce its response on Thursday but declined to comment on whether it would raise its offer.
The source declined to be named as KNOC had yet to make an official statement.
The Times said KNOC planned to announce by the end of this week it would not raise its bid for Dana, without citing sources.
(Reporting Miyoung Kim in SEOUL and Karolina Tagaris in LONDON; Editing by Valerie Lee and Jonathan Hopfner)
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