Dubai state-owned refiner Emirates National Oil Co. (Enoc) says it will not increase its $1.9 billion cash bid for UK-based independent Dragon Oil. Enoc recently offered Dragon shareholders ￡4.55 pence ($7.64) per share for the 48.5% of the Turkmenistan-focused upstream firm it does not already own, representing a 35% premium to Dragon's closing price the day before the bid.
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