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Faroe CEO says met with DNO amid possible hostile takeover

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By Reuters

LONDON (Reuters) – Faroe Petroleum <FPM.L> had a “constructive” meeting with DNO <DNO.OL> last week, Faroe’s chief executive said on Tuesday, as DNO is widely expected to attempt a hostile takeover of Faroe in early October.

“Our desire is to continue as an independent company,” Faroe CEO Graham Stewart told Reuters. Faroe operates in the UK and Norway’s North Sea.

Another meeting is planned for next week with the Norwegian oil and gas company.

(Reporting by Shadia Nasralla; editing by Jason Neely)