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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:41 EDTPGNPetronas extends deadline for its bid for Progress Energy, Globe and Mail says
Petronas, the national oil company of Malaysia has extended the deadline for its $6B offer for Canada's Progress Energy (PGN) until year end, says the Globe and Mail. Reference Link
News For PGN From The Last 14 Days
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November 17, 2014
10:03 EDTPGNParagon Offshore to host conference call
Conference call to discuss the acquisition of shares in Prospector Offshore Drilling is being held on November 17 at 11:30 am. Webcast Link
05:19 EDTPGNParagon acquires majority stake in Prospector Offshore for $2.13 per share
Paragon Offshore reported that it has acquired 52.75M shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 NOK per share, or $2.13 per share based on the exchange rate of one United States dollar to 6.80 NOK. Following this transaction, Paragon owns a total of 52.75M shares of Prospector, equal to 55.8% of the outstanding shares of Prospector. Paragon intends to launch a mandatory tender offer for the remaining outstanding shares of Prospector within four weeks as mandated by applicable Luxembourg and Norwegian law. In addition, Paragon will request the board of directors of Prospector to convene a general meeting of the Prospector shareholders to elect three new Paragon designated directors to the Prospector board.

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