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BUZZ-Dragon Oil: ENOC raises buyout offer again

Reuters - UK Focus

** Dragon Oil (LSE: DGO.L - news) up c.9 pct to high of 799p & on track for largest one-day move in over 3.5 yrs after the oil producer's majority shareholder raises buyout offer to 800p/shr and declared offer unconditional

** Emirates National Oil Co Ltd (ENOC), which owns 54 percent of Dragon Oil, achieves 29.92 pct shareholder acceptance, higher than the additional 23 pct it needed.

** Sunday's deal announcement seals a long-running dispute between top minority shareholders and ENOC over offer price, which was raised twice

** Top minority shareholders Baillie Gifford and Elliott Capital Advisors sign off on new deal price

** Up to Friday's close, stock had risen c.44 pct since March 13, the last day before bid rumours started pushing the stock up (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)