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Bakken bargain

14 July 2014 By Christopher Swann

The Bakken oil driller is offering no premium in a $3.8 bln all-share bid for rival Kodiak. That’s OK for the 60 pct of shareholders who the companies say own both stocks – like hedgie John Paulson. And the deal’s logic is solid. But it short-changes the rest of Kodiak’s owners.

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