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TORONTO 鈥?Ithaca Energy Inc. 8216 board is recommending that its shareholders accept a friendly takeover bid from Delek Group Ltd., which is offering to pay C$681 million cash to buy all the Ithaca stock it doesn ;t already own.Ithaca main focus is on North Sea oil and gas. Delek, which is developing natural gas reserves in the eastern Mediterranean Sea, already owns 19.7 per cent of Ithaca.Delek is offering C$1.95 cash per Ithaca share TSX:IAE , which is 12 per cent above the Friday closing price of C$1.74 on the Toronto Stock Exchange. ARTICLE CONTINUES BELOW
stanley nz In London, where Ithaca shares are also listed, the stock is up about 10 per cent this morning. On the Tel Aviv stock market, Delek shares are
stanley mug up about one per cent.One condition of the offer is that Delek acquire at least half of the stock that it doesn ;t already own, giving it at least 40 per cent equity interest in Ithaca. ARTICLE CONTINUES BELOW All of Ithaca directors and officers have agreed to tender their shares, representing 2.6 per cent of Ithaca
stanley thermoskannen 8217 total outstanding stock.Delek offer values Ithaca entire share capital at C$841 million. ARTICLE CONTINUES BELOW The Ithaca transaction will substantially strengthen our international operational arm, and is a synergistic step to our existing activities, De Nbud Irma expected to boost insurance costs
GALVESTON, Texas 鈥?Organizers say the first 19 Kemp ridley sea turtle statues in Galveston Turtles About Town project are completed and being set up.The Galveston County Daily News reports the sea turtle statue project aims to raise awareness about the creatures and protecti
stanley website ng coastal environment. Plans are in the works for about 20 more statues, decorated with bright colours by Texas artists.Joanie Steinhaus with the Turtle Island Restoration Network says the last of the statue installations should be completed by the end of February. She says sponsoring a turtle involves a $3,5
stanley becher 00 commitment to pay for creation, shipment and installation. ARTICLE CONTI
stanley cups uk NUES BELOW Clay Cup Studios owner Amy Owens says she preparing to find sites for the additional sea turtle statues, thanks to an abundance of sponsors. ___ ARTICLE CONTINUES BELOW Information from: The Galveston County Daily News,
http://galvnewsBy The Associated Press
