US independent Coastal and integrated energy company Cepsa have entered into a merger agreement whereby the latter will acquire all of Coastal’s issued and outstanding shares at a price of C$19 per common share.
This represents a premium of 28% to the closing price of the company’s shares price on 18 November.
Coastal’s assets include 100% operated equity in the G5/43 and G5/50 concessions in the Gulf of Thailand as well as various interests onshore north-east Thailand, including a 13.7%
