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Exillon Energy Takeover Offer Fizzles as Major Shareholders Pull Back

Exillon Energy said it was no longer actively engaged in offer talks and was unaware of any third party interested in making an offer for the company, a day after its largest shareholder, Seneal International Agency Ltd — controlled by Russian billionaire Alexei Khotin — said it would not raise its stake in the oil producer.

Shares in London-listed Exillon fell as much as 24 percent on Wednesday, making it one of the top percentage losers on the London Stock Exchange.

The stock had gained about 47 percent since Exillon's founder and former chairman Maksat Arip made an initial offer approach for the company in July.

Seneal owns a 29.99 percent stake in Exillon.

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