Dec. 9 at 1:31 PM
Parex Resources said it has halted talks to acquire GeoPark after concluding that the information provided since mid-November did not justify raising its initial
$9.00-per-share cash proposal. The companies held virtual and in-person meetings — including a December 1 meeting in Bogotá — but Parex warned it would exit discussions if negotiations did not progress within the terms of its September offer. GeoPark declined to proceed on that basis, and the talks formally ended on December 8. Parex already owned an 11.8% stake in GeoPark, disclosed on October 29. During the negotiation period, GeoPark issued several public updates, including off-cycle reserves data and new 2026–2028 guidance, seemingly to support a higher valuation.
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