{"id":29432,"date":"2012-06-29T14:54:43","date_gmt":"2012-06-29T18:54:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=29432"},"modified":"2012-06-29T14:54:43","modified_gmt":"2012-06-29T18:54:43","slug":"petronas-to-acquire-progress-energy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/06\/29\/petronas-to-acquire-progress-energy\/","title":{"rendered":"Petronas to Acquire Progress Energy"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vf749af99fed107367e5a1325e4a1e9414a52643a&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vf749af99fed107367e5a1325e4a1e9414a52643a&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>Petroliam Nasional, Malaysia&#8217;s state-owned oil and natural-gas company, is planning on expanding its exploration in Canada. The company announced it will be acquiring Progress Energy Resources Corp. (NYSE:PRQ) for around $4.67 billion. This decision came after Petronas decided to buy a stake in three of Progress Energy&#8217;s gas fields last year. The company&#8217;s Chief Executive Officer seemed to like what he saw and agreed to the transaction.Petronas will buy Progess Energy for $20.45 canadian per share, a 77% premium over the closing price yesterday in Toronto. This marks the biggest purchase ever for Petronas in its company&#8217;s history.Progress Energy is skyrocketing on the Toronto Stock Exchange, up over 74% to $20.10 a share.<\/p>\n<p><img src='http:\/\/images.grab-media.com\/financial_news_network\/2012\/06\/29\/1_m21uneju_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/images.grab-media.com\/financial_news_network\/2012\/06\/29\/1_m21uneju_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Petroliam Nasional, Malaysia&#8217;s state-owned oil and natural-gas company, is planning on expanding its exploration in Canada. The company announced it will be acquiring Progress Energy Resources Corp. (NYSE:PRQ) for around $4.67 billion. This decision came after Petronas decided to buy a stake in three of Progress Energy&#8217;s gas fields last year. The company&#8217;s Chief Executive &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/06\/29\/petronas-to-acquire-progress-energy\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Petronas to Acquire Progress Energy&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-29432","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/29432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=29432"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/29432\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=29432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=29432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=29432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}