COMPANY NEWS: M&A activity reshapes Canadian oil and gas industry

A series of takeovers of mid-sized producers in Canada have topped merger and acquisition news in recent weeks. Meanwhile, other Canadian firms are honing their exploration and production portfolios.Anadarko Petroleum Corp. said earlier this month it will acquire Berkley Petrole um Corp., Calgary, at a cost of more than $1 billion (US). It will pay $11.40/share (Can.) in cash for an equity value of $777 million (US) and assume Berkley debt estimated at $250 million (US).PrimeWest Energy Trust, Calgary, launched a $790 million (Can.) friendly takeover bid for Calgary-based oil and gas producer Cypress Energy Inc.Electricity producer Calpine Corp., San Jose, Calif., plans to acquire all the...

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