Battalion Oil rises on new merger deal with Fury Resources
20/09/2024 11:48
** Shares of independent oil producer Battalion Oil BATL.A
rise 119.73% to $6.46 premarket
** Private firm Fury Resources to acquire BATL for $7.00/shr
in cash following an amendment to previously announced merger
agreement
** Fury also secures $548 mln in financing for the merger
from equity firms including Fortress Credit and AI Partners
Asset Management
** Transaction expected to close in 4Q24
** Up till last close, stock is down 69.41% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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