Home » Markets » Oil tycoon Harold Hamm to acquire Continental Resources for $74.28 per share
Oil tycoon Harold Hamm to acquire Continental Resources for $74.28 per share
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Oil tycoon Harold Hamm is taking private the company he founded, Continental Resources, in a deal that values the independent oil producer at $27 billion.
Hamm's Omega Acquisition entered into an agreement Monday to buy all remaining outstanding shares of the independent oil producer for $74.28 per share.
Based on the shares outstanding as of Oct. 12, the energy billionaire's tender offer is worth $4.3 billion for approximately 58 million shares. Hamm and his family already own approximately 83% of Continental's common stock.