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Gulf Canada Resources Ltd. has reached an agreement to purchase Crestar Energy Inc. for approximately CAD 1.54 billion (USD 1.02 billion) in a combination of cash and stock, equivalent to around CAD 26.97 per share. In a friendly acquisition, Gulf Canada stated that the deal would establish it as the 11th-largest independent oil and natural gas producer in North America.
Monday, 2 October, 2000