Sweden-based Lundin Energy, valued at around $10.7 billion, is exploring a potential sale in what could be one of the largest European oil and gas deals in years, Bloomberg said citing unnamed sources.
The shares of the company climbed as much as 14 percent on Monday, the highest jump during a day since April 2020. They rose 10 percent by the market close in Stockholm, recording a value of about 96.8 billion kronor ($10.7 billion).
The company said in a statement Monday that it “continuously engages in opportunities that are potentially value accretive,” but there are no conclusive decisions yet.