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EnQuest PLC on Friday confirmed it was in talks for a possible merger with Serica Energy PLC, in a reverse takeover where EnQuest would make an all-share offer for Serica. Serica is a North Sea-focused oil and gas producer while EnQuest is an oil and gas company with operations in the UK and Malaysia. ‘Discussions remain ongoing between the boards of EnQuest and Serica, and a further announcement will be made in due course. There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made,’ EnQuest said. Serica shares closed 8.4% higher at 130.60 pence each on Friday afternoon in London, giving it a market capitalisation of £515.2 million, while EnQuest shares rose 14% to 12.44p each, for a market capitalisation of £231.4 million. EnQuest has until April 4 to announce its intention to make an offer, or to announce it does not intend an offer for Serica. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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