A roundup of today's other stories in brief.
Backing for Tullow takeover
Shareholders in Hardman Resources yesterday voted in favour of the proposed €865 million takeover by another oil company, Tullow Oil, writes Claire Shoesmith.
More than 246.6 million Hardman shareholders, representing 94 per cent of the total votes cast, were in favour of the acquisition, which will double Tullow's exploration pipeline and give it greater access to development sites in Uganda and elsewhere in Africa.
The deal, which was first announced back in September, will be considered by the Federal Court of Australia today after which it can be completed.
New CEO for Hibernian
The Hibernian Group yesterday announced the appointment of Stuart Purdy as group chief executive. The appointment is effective from February 1st next. Mr Purdy (44) will succeed Bryan Jenkins, who is scheduled to retire on this date. Mr Purdy was appointed deputy group chief executive of Hibernian last September.
Statoil in $29bn merger deal
Norway's two national oil companies are to merge to create the world's biggest offshore operator in a deal valued at $29 billion.
Statoil is merging with the oil and gas businesses of Hydro in a deal that is being seen as a response to the problems of rising costs and political instability faced by international oil companies.
The deal is the third- biggest merger in the oil and gas sector this decade.
Analysts have predicted a wave of consolidation as companies struggle to cope with more difficult trading conditions. - (Financial Times service)
Glencar welcomes mining results
Glencar Mining yesterday released positive results from drilling at its Komana West gold deposit in southern Mali.
Managing director Hugh McCullough said he was pleased with the results.
He said the results confirmed earlier reports that gold resources exist at the site.
Thailand imposes capital controls
Thailand's central bank yesterday imposed draconian capital controls to try to stem rapid appreciation of the Thai baht.
This will force offshore investors to keep their money in the country for at least a year or face stiff penalties for early withdrawal. - (Financial Times service)
Petroceltic's Algerian results
Oil and gas exploration group Petroceltic yesterday released the results from two wells drilled in Algeria.
The company said that while both holes had sustained gas flows, evaluation of the test data showed formation damage at one of the wells. However, the second hole had substantial flows.
UK inquiry into takeover leaks
Regulators in the UK are studying some of the biggest takeover bids of the past year in an effort to tighten up controls and stop sensitive information being leaked to the market prematurely.
Officials at the Financial Services Authority have interviewed people involved in four significant takeover bids in an attempt to understand how information about a deal is passed between banks, law firms and public relations advisers as well as printers who handle sensitive documents. - (Financial Times service)
