Devon-Santa Fe Snyder deal tops M&A action

06/05/2000
The consolidation of the top US independents into a handful of superindependents continues.Devon Energy Corp., Oklahoma City, has agreed to acquire Santa Fe Snyder Corp., Houston, for about $3.35 billion in stock and assumed debt, in a deal creating one of the top five US independent oil and gas companies. The company will continue to be named Devon Energy Corp. and will remain headquartered in Oklahoma City.Meanwhile, the merger and acquisition frenzy in Canada shows no sign of letting up, with developments noted on bids or battles targeting Ranger Oil Ltd., Calahoo Petroleum Ltd., Draig Energy Ltd., and Ulster Petroleums Ltd.-and a preemptive move by Maxx Petroleum Ltd.There is fresh ne...
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