Encana (ECA +5.3%) shares are rising in response to the bid by Malaysia's state oil company to...

|About: Encana Corporation (ECA)|By:, SA News Editor

Encana (ECA +5.3%) shares are rising in response to the bid by Malaysia's state oil company to acquire ECA rival Progress Energy Resources (PRQNF.PK +72.5%), an offer "multiples above where most of the gas names were trading." Investors are rethinking the values given to ECA and other companies that control vast shale gas fields in western Canada.