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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Second_Titan who wrote (82987)	12/29/2000 7:07:40 AM
From: CpsOmis	Read Replies (2) \| Respond to of 95453

FYI: This looked interesting, yet I can't find the companies symbol.... Berkley Petroleum Corp's chief executive said the unsolicited C$1.4 billion ($960 million) takeover offer from Hunt Oil for the mid-sized Canadian oil and gas company appears to be "inadequate." -------------------------------------------------------------------------------- Chief executive Mike Rose said that Berkley was still reviewing the offer from privately held Hunt, but that in his opinion the "proposal fails to recognize the underlying value of Berkley's assets." Hunt said its all-cash offer of C$10 per share represented a 27 percent premium to Berkley's 30-day average weighted price of C$7.88 and a 15 percent premium to the closing price of C$8.70 on the Toronto Stock Exchange on Dec. 22. "The price offered represents only an 8.7% premium to our trading range of approximately $9.20 per share immediately prior to the Hunt announcement." Rose responded in a brief statement several hours after Hunt made its offer. (i)Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters Limited content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters Limited. Reuters Limited shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.(/i) TOP