Two Oil Giants Merge In $7.45 Billion Deal

French Total today announced the acquisition of Danish Maersk
Oil in a stock and debt transaction worth US$7.45 billion. The
bigger portion of the deal, US$4.95 billion, consists of Total
shares. In addition, the French major will assume US$2.5 billion
worth of Maersk Oil’s debt. The share portion represents 3.75
percent of Total’s share capital. The deal should close by
end-March 2018. The acquisition is part of Total’s international
growth strategy, which includes buys, not just in its traditional
field of hydrocarbon development…

French Total today announced the acquisition of Danish Maersk
Oil in a stock and debt transaction worth US$7.45 billion. The
bigger portion of the deal, US$4.95 billion, consists of Total
shares. In addition, the French major will assume US$2.5 billion
worth of Maersk Oil’s debt. The share portion represents 3.75
percent of Total’s share capital. The deal should close by
end-March 2018. The acquisition is part of Total’s international
growth strategy, which includes buys, not just in its traditional
field of hydrocarbon development…