Korea National Oil targets Harvest Energy

摘要

State-owned oil company Korea National Oil Corp. (KNOC) plans to acquire Canada's Harvest Energy Trust, Calgary, (Toronto: HTE.UN; NYSE:HTE) for approximately C$4.1 billion in cash and debt.KNOC will pay C$10.00 per Harvest unit for total cash consideration of approximately C$1.8 billion plus the assumption of C$2.3 billion of Harvest debt. The price represents a 47% premium over the 30-day weighted average through Oct. 20.