Shell Oil launches hostile bid for Barrett Resources

Shell Oil has started its hostile takeover of Barret Resources in a deal that values the company at $2.2bn.

Shell Oil launches hostile bid for Barrett Resources
Mon, 12 Mar, 2001 - 18:39

Shell Oil has started its hostile takeover of Barret Resources in a deal that values the company at $2.2bn.

It has issued a tender offer for all outstanding shares of Barret Resources at $55 per share in cash - a price that the Barret board rejected on Wednesday last week.

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CourtsHeathrowPerson: Peter DeaPerson: Walter van de VijverPerson: BarrettPerson: Van de VijverOrganisation: Shell OilOrganisation: Barrett ResourcesOrganisation: Barret ResourcesOrganisation: BarretOrganisation: Shell Exploration & ProductionOrganisation: ShellOrganisation: Barrett's BoardOrganisation: Lehman BrothersOrganisation: Morrow & Co
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