Oil and gas producer Medco Energi Internasional (MEDC) expectation to own a Ophir Energy Plc. is nearly broken. The London-based upstream oil and gas producer has rejected the offering price of the local company. “The Board has unanimously rejected the proposal as it undervalues Ophir price,” said Ophir’s official statement on Tuesday (Jan 15).
On October 2018, MedcoEnergi announced to acquire Ophir shares through its subsidiary Singapore’ Medco Energy Global Pte. Ltd. The publicly listed firm offered to acquire Ophir’s entire issued and to be issued share at price of GBP58 pence.
