Britain’s takeover panel asks Heamoor to clarify Regal offer by February 10

Britain’s Takeover Panel, the British body supervising and regulating mergers and takeovers, posted an announcement on Monday requiring Heamoor Limited to clarify the terms of its offer to Regal Petroleum (LSE: RPT LN) by February 10. Heamoor, controlled by Ukrainian businessman Viktor Pinchuk, said on January 18 that it was considering an offer to Regal’s shareholders of a reverse takeover at 25 pence per share. The Takeover Panel said that an extension to its deadline would not be granted without consent of the panel executive. The panel also stipulated that if Heamoor does not intend to make an offer for Regal, then it must refrain from making further attempts to acquire the company for a minimum of six months. Energees Investments-Smart Holding detailed an increased partial cash offer to buy Regal at 38 pence per share on February 6.