Tracinda Buys 35% of Energy Company
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Tracinda, controlled by the billionaire Kirk Kerkorian, will pay $684 million to acquire a 35 percent stake in the Denver-based Delta Petroleum Corporation, the oil and gas company said.
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The company posted a wider-than-expected fourth-quarter loss, burdened by a 35 percent jump in its fuel bill.
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Spanish power firm Iberdrola is expanding into the US by buying Energy East Corp for $4.5bn.
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The oilfield services company said profit rose 35 percent to $1.35 billion in the third quarter, as strong demand in Latin America, Russia and Asia offset weakness in domestic markets.
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Spain's Iberdrola said on Tuesday it will make a share issue to help finance its $4.5 billion cash purchase of U.S. regional gas and electricity supply company Energy East before completing the deal in the second half of 2008.
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Siemens bought a 16 percent stake from a private investor in November and launched a bid of 55 euros ($72.05) a share for the remaining shares.
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French oil group Total said it had signed an agreement to acquire a 25 percent stake plus one additional share in Russian natural gas producer Novatek, without disclosing the financial terms of the deal.
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The company has announced the sale of its part share in the Laminaria and Corallina oil fields to the British-owned Paladin Oil &amp; Gas.
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Energizer Holdings, the battery maker, will acquire Playtex Products for $18.30 a share.
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MADRID/LONDON  - Spain's Iberdrola  has agreed to buy Scottish Power  for 11.6 billion pounds ($22.5 billion) in cash and shares to create Europe's third-biggest utility and a world leader in renewable energy.
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Acciona, a Spanish builder, bought 10 percent of Endesa, the countryÂs biggest power company, for 3.4 billion euros ($4.3 billion), throwing a new twist into a takeover battle for Endesa. Acciona said it did not plan to make a takeover bid, but it did not rule out increasing its stake. The 10 percent share matches that of EndesaÂs largest shareholder, Caja Madrid. Endesa is the target of competing takeover bids from E.On of Germany and Gas Natural of Spain. The price Acciona paid for its stake, 32 euros a share, is 26 percent more than E.OnÂs bid, a factor that might force E.On to raise its bid or to withdraw because of the high price, analysts said.
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National Grid Transco, the Britain-based deliverer of energy, announced it has agreed to sell four of its gas distribution networks to consortia in cash deals worth 5.8 billion pounds (8.6 billion euros, 10.4 billion dollars).
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The British power and gas system operator National Grid Transco PLC said Tuesday it has sold four regional natural gas distribution networks for 5.8 billion pounds (&#36;10.4 billion) in three deals.
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Energy transport company buys Kaneb Services and Kaneb Pipe Line as it also lifts dividend. NEW YORK  - Valero LP, an owner and operator of energy pipeline and storage facilities, agreed to buy Kaneb
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Utility company Avista Corp. (AVA.N: Quote, Profile, Research) said on Friday it has agreed to purchase the remaining half interest in the Coyote Springs 2 power plant in Oregon from bankrupt energy company Mirant Corp.
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Oil and gas producer Noble Energy Inc. (NBL.N: Quote, Profile, Research) agreed to buy Patina Oil &amp; Gas Corp. (POG.N: Quote, Profile, Research) in a cash and stock deal, helping it expand
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Tracinda Corp., controlled by  billionaire investor Kirk Kerkorian, said on Wednesday it plans  a cash tender offer to raise its stake in hotel and casino  company MGM Mirage Inc.  to as much as 61.7 percent from  the present 56.3 percent.