Oil Cos. Merge To Form Norway's 2nd-Largest

Law360, New York (August 25, 2009, 4:28 PM EDT) -- Det norske oljeselskap ASA and Aker Exploration ASA announced Tuesday that they would merge to form Norway's second-biggest oil company, although it would still be far smaller than international powerhouse StatoilHydro ASA.

If the merger goes through, then the new company — which will retain the name Det norske oljeselskap ASA — will have more than 170 employees and a market capitalization of 4.17 billion kroner ($694 million). By contrast, StatoilHydro has around 29,500 employees and a market capitalization of more than 500 billion kroner ($66.5...
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