British Gas PLC announced a $676-million (370-million...
British Gas PLC announced a $676-million (370-million pound) takeover bid for Britain’s third-largest independent oil explorer and producer, Acre Oil PLC. British Gas, which dominates domestic and industrial gas supply in Britain, said in a statement that it now controlled 50.3% of the company’s issued share capital. The statement said the takeover was an important step in British Gas’ expansion of operations in Britain and offshore in the North Sea.
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