West Africa-focused Tullow Oil said on Thursday it was in preliminary talks with Kosmos Energy (NYSE: KOS) over a possible all-share offer.
Tullow said the announcement is being made in response to recent media speculation, but noted that there is no certainty that any offer will be made, nor as to the terms of any such offer.
Kosmos Energy has until 5 p.m. London time on January 9, 2025, to either announce a firm intention to make an offer or to declare that it does not intend to pursue the acquisition of Tullow.
Kosmos (NYSE: KOS) shares were down over 6% in afternoon trading while Tullow (LON: TLW) shares closed 6.17% higher earlier in the day.
