Kosmos Energy says in very preliminary discussions with Tullow regarding offer

Kosmos Energy (KOS) said that Thursday’s announcement by Tullow Oil plc (TUWOY) regarding a potential transaction involving Tullow and Kosmos and confirms that it is in very preliminary discussions with Tullow regarding a possible all-share offer by Kosmos for Tullow. There can be no certainty that any offer will be made, nor as to the terms on which any offer might be made. Pursuant to Rule 2.5 of the Code, Kosmos reserves the right to vary the form and/or mix of the offer consideration and vary the transaction structure. A further announcement will be made as and when appropriate. As stated in today’s announcement by Tullow, in accordance with Rule 2.6(a) of the Code, Kosmos is required, by not later than 5.00 p.m. on 9 January 2025, to either announce a firm intention to make an offer for Tullow in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.