A consortium led by Compañía Española de Petróleos, S.A.U. (CEPSA) has proposed a takeover of Salamander Energy plc (LSE:SMDR). Under the proposal the consortium, which also includes a subsidiary of Jynwel Capital Limited, is proposing to pay £1.21 in cash for each Salamander share and one contingent value right of up to £0.24 per share, Salamander said on November 14, 2014. The CEPSA-led consortium has made its proposed offer on the condition that Salamander cancels a deal it struck with Sona Petroleum Berhad (KLSE:SONA) in July 2014.