Statoil commences tender offer for Brigham

Statoil ASA on Oct. 28 said it has commenced its tender offer for Brigham Exploration Co. at a price of $36.50/share.
Oct. 28, 2011

Statoil ASA on Oct. 28 said it has commenced its tender offer for Brigham Exploration Co. at a price of $36.50/share.

Earlier this month, Statoil and Brigham announced a definitive $4.4 billion merger agreement (OGJ, Oct. 24, 2011, p. 24).

Statoil and Brigham both filed documents with the US Securities and Exchange Commission. Brigham’s board recommends shareholders accept the offer.

The offer and withdrawal rights are scheduled to expire Nov. 30, unless extended or earlier terminated.

About the Author

Paula Dittrick

Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.

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