Company News: Shell offers to purchase Enterprise for $6.2 billion

04/08/2002
Shell Resources PLC, a wholly owned member of the Royal Dutch/ Shell Group, announced Apr. 2 an offer to purchase all shares of UK independent Enterprise Oil PLC for £4.3 billion ($6.2 billion). The action, which includes a cash offer of £3.5 billion and assumption of net debt of £800 million, follows months of speculation regarding potential Enterprise suitors.Those suitors included primary candidate ENI SPA, Europe's fourth largest oil company (OGJ Online, Feb. 1, 2002), which said it had been investigating Enterprise-among other companies. BP Group PLC and TotalFinaElf SA had also been mentioned as possible suitors after Enterprise said in late 2001 that it had be...
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