Company News: EnCana agrees to buy Tom Brown for $2.7 billion

05/03/2004
EnCana Corp., Calgary, has agreed to buy Tom Brown Inc. of Denver for $2.7 billion, which includes a tender offer of $48/share and the assumption of debt.The deal is expected to close before June 1, and upon completion of the merger, Tom Brown will become a wholly owned EnCana subsidiary.In other recent, downstream company news:BP PLC said Apr. 27 it plans to consolidate the olefins and derivatives (O&D) division of its petrochemicals business into a stand-alone operation that it will sell "in due course, possibly through an initial public offering," in the second half of next year.Citgo Petroleum Corp. said Apr. 26 it will move its headquarters to Houston from Tulsa, with some 700 jobs t...
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