Serica faces ‘aggressive’ questioning on Tailwind deal
The UK-focused producer is finding shareholders disgruntled by its latest proposed M&A
AIM-listed UK E&P Serica Energy is not having an easy ride from existing backers about its plan to acquire peer Tailwind Energy. The component of the deal giving Swiss commodity trading house Mercuria, a large stakeholder in Tailwind, a 25pc share in the enlarged firm is a particular lightning rod for dissent. A mid-January investor presentation saw Serica CEO Mitch Flegg responding to what he called “quite aggressive” questions from those with doubts about the transaction. These included complaints that a “40pc share dilution to existing shareholders is unfathomable”. “How is this acceptable?” they asked. 25pc – Mercuria’s future stake in Serica “How is the company not seeing

Also in this section
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead