Investors have more time to weigh Suncor’s unsolicited all-stock offer for Canadian Oil after its board approved poison pill shareholder rights plan, Reuters said. Company is worth about CA$4.3 billion.
The transaction will expand Schlumberger’s revenue base by more than 20%, Paal Kibsgaard, the company’s CEO and chairman, said in a press call. Schlumberger expects cost synergies of $900 million over two years.
AGL is planning to spend $670 million on interstate pipeline construction projects, including infrastructure from the Marcellus and Utica and that could grow volumes moving to the Southeast, Midcontinent and Eastern Canada.
Halliburton Co. and Baker Hughes received Department of Justice second requests in February under Hart-Scott-Rodino Antitrust Improvements Act of 1976’s notification requirements. Baker Hughes certified the second request July 14.