Two California energy firms halted a merger.
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McFarland Energy of Santa Fe Springs and Petrominerals of Stanton said they couldn’t agree on “certain material terms” of the agreement in principal that they had announced Aug. 15. That deal called for McFarland, an independent oil and gas company, to exchange 1.1 million of its shares for all of the outstanding shares of Petrominerals, another oil and gas producer.
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