Total said to consider $5bn bid for Neptune Energy

Bloomberg cited people with knowledge of the matter as saying that Total has held early stage talks with Neptune about a potential takeover.

Bloomberg had previously reported that Neptune, which is backed by private equity firms Carlyle and CVC Partners, could be valued at more than $5bn in a sale. The company had earlier attracted interest from Italian energy group Eni SpA, but this cooled over price expectations.

Bloomberg said deliberations are ongoing and there’s no certainty Total will decide to proceed with an offer.