
Research Firm: Duvernay Had Unusual Trading Ahead Of Shell Buy
Stock in Canadian oil company Duvernay “showed significantly deviant behaviour” on June 25 and 26, Measuredmarkets principalChristopher Thomas said in an e-mail. Duvernay didn’t return a request for comment.
On June 26, Duvernay registered 1.2 million shares in volumes traded in 1,861 separate trades, double the total amount in the two previous days, Measuredmarkets data shows.
Anglo-Dutch oil giant Shell on Monday agreed to buy Duvernay for C$5.9 billion ($5.85 billion) in an offer recommended by the board.
-By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; benoit.faucon@ dowjones.com
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(END) Dow Jones Newswires 07-14-08 1340ET Copyright (c) 2008 Dow Jones & Company, Inc.