Forest Oil falls after Sabine Oil's bridge loan pulled

|About: Forest Oil Corporation (FST)|By:, SA News Editor

Forest Oil (FST -17.6%) plunged late in today's regular trading after Sabine Oil & Gas pulled an $850M loan that was being raised to back its acquisition of the company, according to Bloomberg.

Proceeds of the unsecured debt were to repay FST borrowings in connection with the purchase, the report says.

Sabine Oil had agreed last month to buy FST in an all-stock deal, without providing a value.