Battalion Oil rises on new merger deal with Fury Resources

Battalion Oil

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;))