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Symbol Sentiment Start Return Closed EAC n/a JPM n/a DNR n/a Via BloggingStocks:   Filed under: Deals, JPMorgan Chase (JPM) In North America, the big focus for independent exploration and production firms is on natural gas. Yet, there is still a good amount of oil to be tapped (assuming prices remain relatively high). So this week, Denbury Resources (NYSE: DNR) capitalized on the opportunity by shelling out $3.2 billion for Encore Acquisition (NYSE: EAC). It's not cheap, coming at a 35% premium. Yet, the deal will create a powerhouse in oil exploration and production in North America. interestingly enough, in a sign that credit markets are loosening up, JPMorgan (NYSE: JPM) has agreed to provide a revolver of $1.25 billion to bridge the deal. Continue reading Denbury strikes a $3.25 billion deal for Encore Denbury strikes a $3.25 billion deal for Encore originally appeared on BloggingStocks on Mon, 02 Nov 2009 14:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments   Read the rest of original post »

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