{"id":140382,"title":"80 Mile Agrees Indicative £61.5m All-Share Merger With Greenland Energy","publisher":"Share Talk","author":"sharetalk","published":"2026-09-08T09:19:29+00:00","modified":"2026-09-08T09:19:29+00:00","canonical_url":"https://www.share-talk.com/80-mile-agrees-indicative-61-5m-all-share-merger-with-greenland-energy/","markdown_url":"https://www.share-talk.com/80-mile-agrees-indicative-61-5m-all-share-merger-with-greenland-energy.md","json_url":"https://www.share-talk.com/80-mile-agrees-indicative-61-5m-all-share-merger-with-greenland-energy.json","category":"Energy","categories":["Energy"],"tags":["80M","biofuels","Bluejay","Eric Sondergaard","Ferrandina Biofuels Plant","Finland","Greenland","Greenland Exploration Limited","Helium","Hydrogen Valley Ltd","Italy","Jameson Land Basin","KoBold Metals","March GL Company","North Sea","Pelican","Pelican Acquisition Corporation","Roderick McIllree","U.S. Pink Market"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/9dfeed39-9df3-4d07-93c7-e0b5ab782d77.png?fit=1727%2C911&quality=80&ssl=1","format":"news","language":"en-GB","content":"### **80 Mile Agrees Indicative £61.5m Takeover at 46.7% Premium**\n\n[80 Mile PLC (AIM: 80M)](https://www.investegate.co.uk/announcement/rns/80-mile--80m/r2-4-proposed-merger-with-greenland-energy-company/9759940)has agreed indicative terms for a **£61.5 million all-share takeover by Nasdaq-listed Greenland Energy Company**, valuing each 80 Mile share at approximately **1.1p**.\n\n- **Indicative all-share merger values 80 Mile at approximately £61.48 million**\n\n- **Implied value of approximately 1.1p per 80 Mile share**\n\n- **46.67% premium to 80 Mile’s 7 September closing price**\n\n- **80 Mile shareholders would receive 0.01108 Greenland Energy shares for each share held**\n\n- **Combination would consolidate 100% of the Jameson Land Basin licences**\n\n- **Greenland Energy had $37.4 million in cash at the end of June**\n\n- **Greenland Energy already owns 4.42% of 80 Mile**\n\n- **Firm-offer deadline currently set for 6 October 2026**\n\n- **Transaction remains conditional and there is no certainty a formal offer will be made**\n\nThe proposed valuation represents a **46.7% premium** to 80 Mile’s closing price immediately before the offer period began.\n\nUnder the terms being discussed, 80 Mile shareholders would receive **0.01108 Greenland Energy shares for every 80 Mile share held**.\n\nThe implied 1.1p valuation also represents a **42.9% premium** to 80 Mile’s closing price on 3 September, before the indicative terms were agreed, and a **64.2% premium** to the price of the company’s July placing.\n\nThe proposed combination would consolidate the two companies’ interests in Greenland’s **Jameson Land Basin** into a single Nasdaq-listed vehicle.\n\nIt would also bring 80 Mile’s wider portfolio of critical-minerals and industrial-gas assets into the enlarged group, creating a more diversified energy and resources company with access to US capital markets.\n\nGreenland Energy raised approximately **US$70 million in April 2026** and reported cash of **US$37.4 million at the end of June**, giving the proposed combined business a stronger financial position from which to advance its development portfolio.\n\nThe US-listed company has also already built a meaningful position in 80 Mile, acquiring **246.8 million shares between 25 August and 3 September**.\n\nThat stake represents approximately **4.42% of 80 Mile’s existing issued share capital**.\n\nThe companies said the proposed merger could improve access to capital while reducing duplicated corporate functions and regional infrastructure costs.\n\nBy combining the businesses within a single listed structure, management believes more resources could be directed towards advancing the underlying assets rather than supporting overlapping corporate structures.\n\nThe proposal remains at an indicative stage and **does not yet constitute a firm offer**.\n\nCompletion would remain subject to due diligence, board approvals and other pre-conditions before Greenland Energy formally commits to the transaction."}