Colombia probes Petrominerales acquisition
Tuesday, October 1, 2013

Colombia opened an investigation into Petrominerales’s record share price gain before the announcement of a $909 million takeover agreement.
Petrominerales rose a record 18 percent September 27, while Pacific Rubiales fell in Bogotá as the two crude producers were put on trading halt in Toronto pending news; the firms disclosed the acquisition two days later.
The probe aims to “clarify the circumstances in which transactions were carried out on the exchange,” the regulator said.
Source: Bloomberg