Deals
Korea National Oil Makes $2.9 Billion Bid for Dana
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Korea National Oil Corp. made a hostile 1.87 billion-pound ($2.9 billion) bid for U.K. explorer Dana Petroleum Plc after its takeover offer was rejected.
The state-owned energy explorer offered 1,800 pence a share and to buy Dana’s convertible bonds, Korea National said in a statement today. The company received letters of support from shareholders representing about 49 percent of Dana stock, according to the statement.