Harbour prices 53-million-share buyback alongside BASF stake sale
Harbour Energy ($HBR) set the price of its proposed off-market purchase of 53 million shares from BASF ($BAS) at 266 pence per share, putting the consideration at approximately $190 million. The purchase accompanies BASF’s institutional share placing and remains conditional on completion of that offering. Harbour intends to cancel the shares it buys. About $40 million of the purchase is expected to count toward Harbour’s existing $250 million buyback program. After the placing and cancellation,
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