GeoPark Limited's Board of Directors announced on October 29, 2025, that it unanimously rejected an unsolicited, non-binding proposal from Parex Resources Inc. The proposal sought to acquire GeoPark in an all-cash transaction for $9.00 per share. This offer was initially received on September 4, 2025, prior to GeoPark's announcement of its transaction with Pluspetrol.
Parex Resources also disclosed that it had acquired an 11.8% ownership position in GeoPark. The Board's decision to reject the offer indicates its belief that the proposal did not reflect the intrinsic value of the company or its long-term strategic potential. This stance suggests confidence in GeoPark's current strategic direction and asset base.
For investors, this rejection is important as it signals the Board's conviction that the company can generate more value independently than through the proposed acquisition. While a premium offer was declined, the Board's action implies a belief in higher future returns from its ongoing strategic initiatives.
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