CNE

"Cairn Energy was in the spotlight yesterday. The oil explorer's shares jumped 223p to £29.89 - an 8% gain - on speculation over a possible takeover bid. The supposed predator was Italy's Eni, and a price of £40 a share was being mentioned. But some traders were cautious. They pointed out that Eni had paid £1.7bn for Burren Energy last year, and suggested it could be too soon for another sizeable acquisition."

http://www.guardian.co.uk/business/2008/mar/12/marketforces