Scots Stocks: Dana Petroleum Shares Up 15 Per Cent On Rumours of Bid by Rwe

The Scotsman › June 19, 2009

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Summary

DANA Petroleum leapt 15 per cent after rumours emerged that RWE was preparing an 1,800p a share bid for the company - although they settled when Dana did not announce talks.

Phil Corbett, an analyst at Dana's broker, RBS, said that while the market liked the company's strategy, its existing asset base was mainly smaller stakes in mature projects, making it a less likely acquisition candidate than companies with exposure to major projects.

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Scots Stocks: Dana Petroleum Shares Up 15 Per Cent On Rumours of Bid by Rwe

Shares in Dana dropped from the early afternoon ...

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