China's Sinopec International Petroleum Exploration and Production Corp. said Sunday that it has agreed to buy Canadian oil and gas company Daylight Energy Ltd. for about $2.2 billion Canadian ($2.1 billion U.S.).
The premium was ~120%. More than double current market price. The 43% was to the average over the last 60 days. Yet the buyout price is still lower than where the stock wa trading just a few months ago.