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Alfa and Pacific Rubiales drop $1.6 billion merger plan

Thursday, July 9, 2015

Pacific Rubiales said that Mexican industrial conglomerate Alfa and Harbour Energy have dropped their plans to buy the Canadian oil and gas company.

The C$2 billion ($1.6 billion) offer, first made in May will terminate immediately, Pacific Rubiales said, adding that it is not obligated to pay a termination fee.

Source: Bloomberg