Maurel & Prom made a $257m takeover offer for Amerisur Resources.

Maurel & Prom, the Paris listed exploration and production company, made a $257m takeover offer for Amerisur Resources, which engages in the exploration and production of oil and gas assets. The consideration was to comprise 12.5 pence in cash, and new shares in M&P with a value of 4.5 pence, per Amerisur share, representing a 41.7% premium to Amerisur's share price of 12.0 pence on 17 July 2019. M&P sees considerable benefit to shareholders from a combination and believes that the enlarged group would offer significant value upside for both Amerisur's and M&P's shareholders. The combination would result in a balanced portfolio of producing assets, with a wide range of high impact exploration and development opportunities across Latin America and Africa. This would allow value adding capital allocation decisions, benefiting from M&P's access to both flexible and low cost debt and to capital markets.