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Final Offer

23 January 2007 By Cyrus Sanati

After tussling with hedge funds, the oil giant raised its offer to buy out the 22% of Shell Canada that it didn t own for C$8.7bn. That s a 37% premium in a period when oil prices have fallen by 13%. This shows Shell s desperation to get a deal done to top up reserves. Hedge funds want more than the C$8.7bn Shell is offering to buy the remaining 22% of Shell Canada. That s a 37% premium even as oil is down. This shows Shell s desperation to get a deal done to top up reserves. But it should resist shelling out further.

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