80 Mile Share Price Rises as Greenland Energy Sets Merger Terms
Shares of 80 Mile PLC (AIM:80M, OTCQB:BLLYF) rose by 7% to 0.80p on September 8, 2026, following the announcement that Greenland Energy has agreed indicative terms for a £61.48 million all-share acquisition of 80 Mile. Under the proposed deal, each share of 80 Mile would be exchanged for 0.01108 new shares in Greenland Energy (GLND). The implied value is below the estimated 1.1p per share from the merger proposal but offers a premium ranging between 42.86% and 64.18%, depending on reference dates. Greenland Energy has already acquired a stake of approximately 4.42% in 80 Mile by purchasing shares at prices between 0.53p and 0.82p over the past few weeks, with an average price of 0.73p per share.
Topics: acquisition share_price stock_movement