Nov 07 - Eni Wishes to Clarify Its Position Regarding Burren by Announcing That it is No Longer Considering Making an Offer for the Company

Source Press Release
Company ENI S.p.A. 
Tags Deals, Strategy - Corporate
Date November 19, 2007
Eni wishes to clarify its position regarding Burren by announcing that it is no longer considering making an offer for the company.

On 9 October 2007, Eni announced that an indicative offer proposal of 1050 pence per share in cash had not been accepted by the Board of Burren and that it continued to seek limited due diligence, irrevocable undertakings from key shareholders and a recommendation from the Board of Burren prior to making a formal offer to all shareholders.

After a number of discussions between Burren and Eni, it has become clear that we are unable to reach agreement on the key terms of a recommended offer.

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