LONDON (Reuters) – Legal & General Investment Management, a significant shareholder in Capricorn Energy and Tullow Oil, said on Monday it has “strong reservations” about a proposed merger between the two companies. Tullow and Capricorn agreed an all-share merger earlier this month in a deal worth around $827 million, paid for in newly issued Tullow shares. The deal, which still needs shareholder approval from both groups, would allow indebted Tullow to end a payout drought for its shareholders with the aid of Capricorn’s cash. “In our capacity as a responsible investor, we have strong reservat…