(Bloomberg) — Capricorn Energy Plc.’s sale to Tullow Oil Plc. appears to be in peril, with more than a quarter of the shareholder base in the oil and gas company saying they plan to vote against the deal. Capricorn investors Madison Avenue Partners, Kite Lake Capital Management, Legal & General Investment Management, Newtyn Management and Palliser Capital UK Ltd. all say they oppose the deal. Collectively, the investors represent more than 27% of Capricorn’s shareholder base, according to regulatory filings.
Capricorn Energy Urged to Drop Tullow Deal With Opposition Mounting
