BIDDING WARCALGARY - Oilexco Inc. shares rose nearly 35 per cent Monday after a London newspaper reported several oil-and-gas producers are showing interest in buying the Calgary-based company (TSX: OIL.TO).
The online edition of Sunday Times said Morgan Stanley, Oilexco's adviser, has already received interest from Talisman Energy (TSX: TLM.TO) and Petro-Canada (TSX: PCA.TO), both of Calgary as well as BG Group, the British gas company. Maersk, the Danish shipping giant, is also mulling a bid.
Oilexco had announced on Nov. 20 that it had hired Morgan Stanley to help it investigate strategic alternatives after the company's board cancelled a planned offering of US$150 million of convertible bonds and up to 20 million common shares.
On the Toronto Stock Exchange, Oilexco shares gained 50 cents, or 34.48 per cent, to close at C$1.95 on Monday.