05:19 AM
State-owned Korea National Oil Corp. agrees to buy Canada's Harvest Energy (HTE) for $3.9B - $1.7B for its outstanding shares and the assumption of $2.2B in debt. Shareholders to receive $9.52/share - a 37% premium to Wednesday's close. The deal is South Korea's biggest outbound O&G cross-border deal ever, and ranks seventh in global Oil & Gas sector M&A transactions in 2009. Shares +29.1% premarket to $9.05.
Comment!