Shares in U.K.-listed Premier Oil PLC were halted for trade on Wednesday after the company requested a suspension ahead an “announcement of a potential acquisition of assets.” The oil and gas exploration company said Wednesday any deal would be classified as a reverse takeover under Financial Conduct Authority listing rules. Premier Oil shares are down 86% in London over the past 12 months, as it grapples with the fallout from multi-year low oil prices. The company dropped out of the FTSE 250 index in 2015.
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