Brooge Energy Gets Acquisition Offer From Dubai's Gulf Navigation, Shares Soar
Portfolio Pulse from Nabaparna Bhattacharya
Brooge Energy Limited (NASDAQ:BROG) has received a formal acquisition proposal from Gulf Navigation Holdings PJSC, a maritime and shipping giant listed on the Dubai Financial Market. The offer includes a complete takeover of all assets and businesses of Brooge Energy. The transaction, if agreed upon, is expected to close in Q4.
October 04, 2023 | 11:45 am
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Brooge Energy has received an acquisition proposal from Gulf Navigation Holdings. This news has led to a 15.3% increase in the company's premarket share price.
The acquisition proposal from Gulf Navigation Holdings has led to a significant increase in Brooge Energy's premarket share price. If the acquisition goes through, it could potentially lead to further increases in the company's share price.
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