EDINBURGH (dpa-AFX) - Tullow Oil plc (TLW.L) announced Wednesday that it has reached agreement on the terms of a recommended all-share merger of equals with Capricorn Energy PLC (CNE.L).Under the
Tullow Oil and Capricorn Energy have reached agreement on the terms of a recommended all-share combination. The merger of equals will create a leading African energy company. On completion of the Combination, Capricorn Shareholders will hold approx. 47 per cent of the Combined Group and Tullow Shareholders will hold approx. 53 per cent.