|Bid||42.90 x 1100|
|Ask||43.20 x 25000|
|Day's Range||42.28 - 42.96|
|52 Week Range||40.53 - 49.50|
|PE Ratio (TTM)||14.35|
|Dividend & Yield||2.95 (5.89%)|
|1y Target Est||N/A|
French energy supermajor Total said this morning that it had acquired Maersk Oil in a deal valued at $7.5 billion including debt.
Paris-based Total SA (TOT), which has its U.S. operations based in Houston, announced Aug. 21 it will buy Maersk Oil & Gas A/S in a $7.45 billion share-and-debt deal. Denmark-based A.P. Møller – Mærsk A/S, the parent company of Maersk Oil, will receive $4.95 billion in Total shares, and Total will assume $2.5 billion of Maersk Oil’s debt. The 97.5 million shares Total is expected to issue to A.P. Møller – Maersk will represent 3.75 percent of the enlarged share capital of Total.
PARIS/COPENHAGEN (Reuters) - Total (TOTF.PA) is buying Maersk's oil and gas business in a $7.45 billion deal which the French major said would strengthen its operations in the North Sea and raise its output to 3 million barrels per day by 2019. For Danish company A.P. Moller Maersk (MAERSKb.CO), the sale of Maersk Oil, with reserves equivalent to around 1 billion barrels of oil, fits with a strategy of focusing on its shipping business and other activities announced last year. The world's top oil companies have been back on the takeover trail over the last year, helped by signs of a recovery in the oil market.