Dallas-based Hunt Oil Co. snagged another gas-rich Canadian property last week by reaching an all-cash deal to acquire Edmonton-based Chieftain International Inc. With the unanimous support of both boards, Hunt will pay $29 per share, making the deal worth $600 million (C$915 million). Hunt also will assume about $15 million in debt.
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Hunt Oil Bags Chieftain International in $600M Deal
Dallas-based Hunt Oil Co. snagged another gas-rich Canadian property on Tuesday by reaching an all-cash deal to acquire Edmonton-based Chieftain International Inc. With the unanimous support of both boards, Hunt will pay $29 per share, making the deal worth $600 million (C$915 million). Hunt also will assume about $15 million in debt.
June 20, 2001
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