M&A activity heats up among majors, service firms

06/03/2002
Merger and acquisition activity among major oil and gas firms and service and supply companies continues apace. Some recently announced deals include:Independent directors will recommend that Gulf Indonesia Resources Ltd.'s full board approve the $329 million offer by Conoco Canada Resources Ltd., Calgary, for all its stock not already owned by the Canadian firm, officials said.Shell Oil Products, a unit of Royal Dutch/Shell Group, has bought a $29 million equity stake in Iogen Energy Corp., a bioethanol technology company based in Ottawa, Canada.Friede Goldman Halter Inc., Gulfport, Miss., agreed to sell Halter Marine Inc., a leading builder of small to medium-sized offshore drilling...
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