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UPDATE 1-Wiser Oil's shares soar on $330 million buyout pact.
(From CBS Marketwatch (Stories))
Byline: Shannon Mitchell
NEW YORK (CBS.MW) -- Shares of Wiser Oil soared more than 30 percent Monday after Forest Oil Corp. said it agreed to acquire its competitor for $330 million.
Wiser gained $2.51, or 31.3 percent, to close at $10.53. At its best level, the stock reached $10.57.
Forest's shares climbed 52 cents to close at $24.54.
The deal, announced late Sunday, values each share of Dallas-based Wiser at $10.60 each, representing a premium of roughly 30 percent over the stock's Friday closing price.
Denver-based Forest expects ...
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