Norway's DNO could be forced to increase its offer for Faroe Petroleum after its £607.9 million ($780 million) hostile takeover bid was rejected by the UK independent, according to analysts, but the company still intends to proceed with the existing tender.
The offer of 152 pence per share for outstanding shares in London-listed Faroe followed months of speculation that DNO was intending to make a predatory bid after building up a dominant 28.22%
