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New Deal


Announced

Canadian Natural Resources to acquire Storm Resources for $960m.

Financials

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Transaction Value£725m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Integrated Oil and Gas

oil and natural gas

Canada

Majority

Privatisation

Public

Domestic

Single Bidder

Acquisition

Pending

Synopsis

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Canadian Natural Resources, a hydrocarbon exploration firm, agreed to acquire Storm Resources, an oil and natural gas explorer, for $960m. The transaction is subject to various closing conditions, including receipt of court approval, the required storm securityholder approval at the meeting and certain regulatory approvals, including clearance under the competition act (canada). Upon closing of the transaction, the storm shares will be de-listed from the tsx.

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