Talisman bids for Arakis Energy
Article Abstract:
Talisman Energy Inc. has offered to acquire Arakis Energy Corp. of Calgary, Alberta, for C$295 million. Under the offer, the company will give Arakis shareholders one Talisman share for every 10 Arakis shares. If the bid is accepted, the company will issue an additional 8.92 million shares, diluting its share base by 8.1%. The company hopes that by acquiring Arakis, it could bring one of Sudan's biggest oil fields to the market. The project has been estimated to have reserves of 450 million barrels of oil and potential for millions more. However, it is located in central Sudan, which is in the 15th year of civil war.
Comment:
Has offered to acquire Arakis Energy of Calgary, Alberta, for C$295 million
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Amber begins to fight takeover bid
Article Abstract:
Amber Energy Inc. of Calgary, Alberta, has issued a formal notice, stating that the company will begin fighting Calgary-based Alberta Energy Company Ltd.'s C$446-million hostile takeover bid. Amber urged its shareholders not to give their approval on Alberta Energy's offer that it says took advantage of a brief drop in its stock price. Amber Chief Executive Richard Lewanski spoke publicly for the first time since the offer was made, saying that Amber is worth more than the C$7-per-share being offered by Alberta Energy.
Comment:
Its C$446-mil hostile takeover bid is being fought by takeover target Amber Energy Inc
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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