Oil firm Denbury buys Encore

Oil exploration and production company Denbury Resources said yesterday that it will acquire Encore Acquisition in a transaction valued at about $4.5bn (£2.7bn), to create one of the largest carbon-dioxide enhanced oil recovery platforms across the Gulf Coast and Rocky Mountain regions. Encore stockholders will receive $50 per share for each share of Encore common stock, comprising $15 in cash and $35 in Denbury common stock.