Ecopetrol's (EC) Brazilian unit launched a voluntary tender offer to acquire about a 25% stake in Brava Energia at $23 Brazilian real ($4.59) per share, representing 116.1 million shares, Ecopetrol said Tuesday.
The offer represents a roughly 20.9% premium to the 90-day volume-weighted average price and is part of a broader deal that could give Ecopetrol a 51% controlling stake.
The tender offer will remain open until June 25, it added.
(Corrected story to reflect the announcement was made on Tuesday.)BP (BP) said Tuesday that its board unanimously decided to remove Albert Manifold as chair and director, effective immediately."This follows serious concerns raised to the Board related to important governance standards, oversight and conduct," BP said.The board appointed Ian Tyler as interim chair, effective immediately, the company said.
EOG Resources (EOG) has an average rating of overweight and mean price target of $160.62, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Diamondback Energy (FANG) has an average rating of overweight and mean price target of $233.03, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)