Dana Petroleum's (DNPXF.PK) board recommends that shareholders reject the hostile $2.87B bid by...

|About: Dana Petroleum PLC (DNPXF)|By:, SA News Editor

Dana Petroleum's (DNPXF.PK) board recommends that shareholders reject the hostile $2.87B bid by Korea National Oil Corp., saying the offer significantly undervalues the company and was made before KNOC was aware of the extent of Dana’s explorations or plans to buy British assets of Petro Canada, a subsidiary of Suncor Energy (SU).