BP to buy Archaea for USD 4.1bn

BP is set to shell out USD 4.1bn, including debt, to take over Archaea Energy, according to Bloomberg News.

Photo: Kacper Pempel/Reuters/Ritzau Scanpix/REUTERS / X02307

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Oil supermajor BP is taking over Archaea Energy as part of a multibillion-dollar transaction that sends the acquired company’s share price soaring.

BP is offering USD 4.1bn including debt for the US natural gas producer, according to Bloomberg News. That corresponds to USD 26 per share, which tallies well with the share development in the company following the news of the acquisition.

Archaea’s share price increased by 51.1% to USD 25.50 in US premarket trading.

BP’s share reacts in a more muted fashion, with the price increasing by 0.7% to GBX 458.30 on the London stock exchange.

BP beats earnings forecast by a billion dollars, hikes dividend

BP buys into large-scale energy project

BP beats earnings forecast by a billion dollars, hikes dividend
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BP buys into large-scale energy project
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