Shell Oil offers $1.8 billion for Barrett Resources

Royal Dutch/Shell Group's wholly owned unit Shell Oil Co. earlier this month offered to acquire all the common stock of Denver-based independent Barrett Resources Corp. at a price of $55/share in cash.Shell last week said Barrett's board had promised to respond to its proposal "no later than Mar. 9." The offer represents a takeover price of $1.8 billion, along with the assumption of $400 million in debt, said Shell.Shell strategy"Shell appreciates the seriousness with which Barrett's board is approaching our proposal, and we are hopeful that the board will respond favorably," said Walter van de Vijver, chief executive of Shell Oil Co.'s exploration and production arm Shell...

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