Sinopec to acquire Canada’s Daylight Energy for $2.1b
World BusinessOct 10, 2011
China Petrochemical Corp., the country’s biggest refiner, agreed to buy Daylight Energy Ltd. for about CA$2.2 billion ($2.11 billion) in cash to add oil and gas assets in Canada. The offer of CA$10.08 a share from China Petrochemical, known as Sinopec, is more than double Daylight’s closing price of