(Bloomberg) -- Marathon Oil Corp., the biggest
refiner in the U.S. Midwest, agreed to buy Canada's Western Oil
Sands Inc. for C$5.8 billion ($5.46 billion), gaining access to
crude deposits that may be the largest outside of Saudi Arabia.
Owners of Calgary-based Western will get C$3.8 billion in
cash and C$2 billion of Marathon stock, the Houston-based buyer
said today in a statement. The maximum cash payment, C$35.50 a
share, is 4 percent higher than Western's close yesterday.
Read more at Bloomberg Energy News
refiner in the U.S. Midwest, agreed to buy Canada's Western Oil
Sands Inc. for C$5.8 billion ($5.46 billion), gaining access to
crude deposits that may be the largest outside of Saudi Arabia.
Owners of Calgary-based Western will get C$3.8 billion in
cash and C$2 billion of Marathon stock, the Houston-based buyer
said today in a statement. The maximum cash payment, C$35.50 a
share, is 4 percent higher than Western's close yesterday.
Read more at Bloomberg Energy News
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