Hydro, Repsol bids lead European M&A action

David Knott Senior Editor A new takeover bid has topped European energy news as Norsk Hydro AS last week made a move to swallow up fellow Norwegian firm Saga Petroleum AS, Oslo. In a week that saw the current mergers and acquisitions frenzy maintain its vigor, Spain's Repsol SA had its offer for Argentina's YPF SA accepted, while London-based Lasmo plc and Premier Oil plc waited on shareholders' decisions. Lasmo made a bid for Monument Oil & Gas plc, London, while Premier faced a bid to overthrow its current board. This latest activity continues an M&A storm that has changed the face of the petroleum industry over the last 12 months or so-change that is...

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