Offered to acquire company.
German company Wintershall, a subsidiary of BASF, has offered to acquire Norway-based E&P Revus Energy ASA, Stavanger, for approximately US$741.5 million in cash. The offer represents a 145% premium compared to the closing share price on Oct. 24 and a 44% premium to the average share price based on the last six months. Wintershall chairman Reinier Zwitserloot says, "With its high-quality development and exploration portfolio, Revus strongly improves Wintershall's asset base in the North Sea, especially in Norway. The activities of Revus lie in a politically and economically stable environment and geographically balance Wintershall's portfolio. We are impressed by the strong geological know-how of Revus' employees and we will retain these strengths to ensure further growth." Wintershall focuses in Europe, North Africa, South America, Russia and the Caspian Sea region. Revus focuses on the U.K. and Norwegian continental shelves.