Finance / United States
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Ithaca Rejects Endeavour
July 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Endeavour International Corporation's bid for Ithaca Energy has been unanimously rejected by Ithaca's Board of Directors. Endeavour offered US$3.25 per share on June 19 in attempt to acquire 100% of Ithaca, a Canadian-owned oil and gas company. The two companies operate in the UK sector of the North Sea, while Endeavour also has Norwegian operations. Both engage in acquisition, exploration and development of oil and gas in the region.