• From The BBC:

    Centrica, which owns British Gas and Scottish Gas, has won its battle to buy oil and gas firm Venture Production.Venture has told its shareholders to accept Centrica’s £1.3bn ($2.1bn) offer, after Centrica acquired a majority shareholding in the company. But Venture said it “continues to believe that Centrica’s final offer substantially undervalues Venture”. The Aberdeen-based firm said shareholders risked being a minority in a delisted company if they held out. Centrica on Monday said it had bought shares in Venture that gave it control of 58.7% of the company. Centrica’s £1.3bn takeover offer for the company has been approved by the EU. At the end of 2008, Venture produced 45,000 barrels of oil per day and it predicts its output will increase over the next three years….

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    Posted by Jon @ 11:41 am

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