Norwegian oil and gas firm DNO is insisting on a bid for its partner in Kurdistan, Genel Energy, despite having its £202 million offer rejected. The move comes as Genel is in a competition to acquire another listed firm, Edinburgh’s Capricorn Energy. However, DNO said its offer represents a “compelling proposition” for Genel shareholders, “irrespective of the outcome” if its $360m offer for Capricorn, which is still yet to be agreed. Genel shareholders are set to vote on the terms of its proposed Capricorn acquisition next week, on 14 August. DNO said if the Genel’s offer fails, it “would leave Genel without the diversification it has long sought and with a significant G&A burden that is disproportionate to its current scale”.