BUZZ-Penn Virginia Corp: Rises on report of BP offer

Thu, 25th Jun 2015 17:00

** Oil and gas producer's shares rise as much as 19pct to $5.30

** BP offered to buy Penn Virginia for $8/share,financial news website Proactive Investors said, citing sourcesfamiliar with the matter

** Offer represents 80 pct premium to Penn Virginia'sWednesday close

** Penn Virginia rejected the offer and is holding out forat least $10/share, Proactive Investors reports

** Exxon Mobil Corp and Chevron Corp mayalso be interested in Penn Virginia, website says

** More than 11 mln shares traded by 12:45 p.m. ET, abovetheir 25-day moving avg of 3.1 mln

** 9 of 16 brokerages rate the stock "buy" or higher, 7"hold"; their median PT is $8

** Up to Wednesday's close, stock had fallen by more than athird this year

Related Shares

More News

9 May 2024 15:51

UK dividends calendar - next 7 days

9 May 2024 13:53

IN BRIEF: IP Group joins USD111 million financing round for Hysata

IP Group PLC - invests in companies pursuing breakthrough science - Portfolio company Hysata Pty Ltd completes USD111.3 million series B funding round...

9 May 2024 10:26

Balfour Beatty says trades in line amid "progress" on pacts

(Alliance News) - Balfour Beatty PLC on Thursday said it has traded in line with expectations so far in 2024, as it makes progress on major deals.

9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

8 May 2024 13:19

Middle East Crude-Benchmarks fall, snapping two-day streak

SINGAPORE, May 8 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban fell on Wednesday after rising for consecutive days after Saudi Aramc...