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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Amerisur Resources plc    AMER   GB0032087826

AMERISUR RESOURCES PLC

(AMER)
  Report  
Delayed Quote. Delayed London Stock Exchange - 08/16 11:35:13 am
17.4 GBp   -2.79%
08/16AMERISUR RESOURCES : Form 8.3 - Amerisur Resources PLC
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08/16KILLIK & CO. LLP : - Form 8.3 - Amerisur Resources plc
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08/14AMERISUR RESOURCES : Form 8.3 - Amerisur Resources plc
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Oil company Amerisur snubs bid overture from French rival Maurel & Prom

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07/22/2019 | 03:55am EDT

PARIS (Reuters) - Latin America-focused oil exploration company Amerisur Resources on Monday snubbed bid overtures from French rival Maurel & Prom, saying Maurel's possible 210 million pounds sterling offer undervalued it.

Maurel & Prom said on Monday that its possible offer was priced at 17 pence per share for Amerisur, whose shares closed at 16.52 pence on Friday. Maurel said Amerisur could help the French group boost its range of assets in Latin America.

The offer would comprise 12.5 pence in cash and new shares in Maurel worth 4.5 pence each, valuing Amerisur at around 210 million pounds in terms of stock market capitalisation.

However, Amerisur Resources said the possible offer undervalued the company, and added it had been in talks with other possible bidders as well.

"Following the approach from Maurel & Prom concerning its possible offer and the receipt of other interest in the company, the board concluded that the Maurel & Prom possible offer materially undervalued the company and was not at a level, nor in a form, that merited further consideration," Amerisur said.

Amerisur's shares rose 7% in London, while Maurel & Prom shares gained 3.4%.

Maurel & Prom's interest in Amerisur highlights a wave of takeover activity in the energy sector as companies look to increase their size to boost cash flow and quell investor criticism over a lack of returns.

Earlier this year, Occidental Petroleum made a proposed $38 billion acquisition of Anadarko Petroleum, while Callon Petroleum announced a takeover of Carrizo Oil & Gas Inc in July.

The Paris-based company said Amerisur's main assets were in Colombia and Paraguay, and they would fit well with its own assets in Colombia.

"M&P sees considerable benefit to shareholders from a combination and believes that the enlarged group would offer significant value upside for both Amerisur's and M&P's shareholders," the French company said in a statement.

"The combination would result in a balanced portfolio of producing assets, with a wide range of high-impact exploration and development opportunities across Latin America and Africa," added Maurel & Prom.

Maurel & Prom said that if it did succeed in acquiring Amerisur, it would seek a stock market listing later on the London Stock Exchange.

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips and Dale Hudson)

By Sudip Kar-Gupta

Stocks mentioned in the article
ChangeLast1st jan.
AMERISUR RESOURCES PLC -2.79% 17.4 Delayed Quote.13.28%
ANADARKO PETROLEUM 0.78% 72.77 Delayed Quote.65.99%
CALLON PETROLEUM COMPANY 5.13% 4.51 Delayed Quote.-30.51%
CARRIZO OIL & GAS INC 4.84% 8.67 Delayed Quote.-26.75%
MAUREL & PROM 0.71% 2.83 Real-time Quote.-12.38%
OCCIDENTAL PETROLEUM CORPORATION 1.39% 44.57 Delayed Quote.-28.38%
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Latest news on AMERISUR RESOURCES PLC
08/16AMERISUR RESOURCES : Form 8.3 - Amerisur Resources PLC
PU
08/16KILLIK & CO. LLP : - Form 8.3 - Amerisur Resources plc
PR
08/14AMERISUR RESOURCES : Form 8.3 - Amerisur Resources plc
PU
08/14KILLIK & CO. LLP : - Form 8.3 - Amerisur Resources plc
PR
08/12AMERISUR RESOURCES : Form 8.3 - Amerisur Resources PLC
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08/09AMERISUR RESOURCES : Form 8.5 (EPT/RI) - Amerisur Resources plc
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08/09AMERISUR RESOURCES : Form 8.5 (EPT/NON-RI)
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08/09AMERISUR RESOURCES : Update on Strategic Review and Formal Sale Process
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08/08KILLIK & CO. LLP : - Form 8.3 - Amerisur Resources Plc
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08/07AMERISUR RESOURCES : Form 8.3 - Amerisur Resources plc
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Financials (GBP)
Sales 2019 96,2 M
EBIT 2019 22,8 M
Net income 2019 25,5 M
Finance 2019 25,6 M
Yield 2019 -
P/E ratio 2019 9,68x
P/E ratio 2020 7,75x
EV / Sales2019 1,93x
EV / Sales2020 1,36x
Capitalization 211 M
Chart AMERISUR RESOURCES PLC
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Technical analysis trends AMERISUR RESOURCES PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 22,40  GBp
Last Close Price 17,40  GBp
Spread / Highest target 83,9%
Spread / Average Target 28,7%
Spread / Lowest Target -8,05%
EPS Revisions
Managers
NameTitle
John Wardle Chief Executive Officer & Executive Director
Charles Giles Clarke Chairman
John Nicholas Harrison Finance Director
Christopher Jenkins Independent Non-Executive Director
Dana Coffield Independent Non-Executive Director
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