(Bloomberg) -- Plains Exploration & Production Co.,
the U.S. oil company that made a failed takeover bid last year
for Stone Energy Corp., agreed to buy Pogo Producing Co. for
$3.6 billion.
Pogo stockholders will receive 0.68201 share of Plains and
$24.88 in cash for each of their shares, the Houston-based buyer
said today in a statement. That values Pogo at $59.79 a share,
an 18 percent premium to yesterday's closing price.
Read more at Bloomberg Energy News
the U.S. oil company that made a failed takeover bid last year
for Stone Energy Corp., agreed to buy Pogo Producing Co. for
$3.6 billion.
Pogo stockholders will receive 0.68201 share of Plains and
$24.88 in cash for each of their shares, the Houston-based buyer
said today in a statement. That values Pogo at $59.79 a share,
an 18 percent premium to yesterday's closing price.
Read more at Bloomberg Energy News
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