Serica, Kistos call off £1bn merger after rival takeover bids

North Sea producers Serica Energy (LON: SQZ) and Kistos (LON: KIST) have confirmed neither party will make a final offer on the other, drawing a line under a series of takeover bids.

In a statement issued late on Tuesday, Serica said it would not be carrying forward a potential offer for the share capital of Kistos.

Kistos later followed with a…