Talisman-Rigel latest big Canadian M&A deal

Merger and acquisition action in Canada's petroleum sector continues to heat up.Last week, Talisman Energy Inc. agreed to take over Rigel Energy Corp. in a $1.2 billion (Canadian) deal. Both are Calgary firms.That comes on the heels of Houston-based Burlington Resources Inc.'s offer the week before of $3.7 billion (Canadian) in a friendly takeover of senior Calgary gas producer Poco Petroleums Ltd. (OGJ, Aug. 23, 1999, p. 35).Meanwhile, Petro-Canada and Suncor Inc., both of Calgary, have confirmed that they broke off talks that sources said were aimed at a possible merger.Officials of both companies confirmed that talks were held but refused to disclose the agenda. Both Petro-Cana...

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