Independent Oil & Gas (IOG) has "unequivocally" rejected a formal takeover approach from fellow UK player RockRose Energy, which is attempting to line up its second North Sea asset deal in quick succession, writes Eoin O'Cinneide.
The directors of London-listed IOG said it had “promptly rejected” the all-cash proposal, calling it “unsolicited” and “opportunistic”.
London-based RockRose formalised its approach for the UK junior after an initial proposal that was put to the IOG board on 26 February was rejected.
