TransAltantic plans takeover bid

TransAtlantic Petroleum Corp. has announced that it is planning a takeover bid for Australia-based Incremental Petroleum Ltd which would be worth CAN 66 million. The TransAtlantic move comes as Incremental resists a bid by Cooper Energy Ltd, an Australian company which already has a 21.6% stake in Incremental. TransAtlantic also explores for and produces oil and natural gas in U.S., Morocco, Romania, and the U.K. North Sea.
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