[B][SIZE="3"]Sinopec (中国石化)agrees to buy Addax for $8-billion [/SIZE][/B]

China's biggest oil products company, Sinopec, has agreed to buy Toronto-listed Addax Petroleum Corp. (AXC-T45.65----%) for $52.50 a share, valuing the company at more than $8-billion.

The price was somewhat higher than expected. Earlier this week, the shares were trading at about $45 a share as investors took the view that the company was fully valued. The offer represents a 47 per cent premium to the closing price on June 5, the day before Addax announced it was in discussions with potential buyers.

The offer represents a clear victory for Jean Claude Gandur, the Addax founder and CEO who controls about 38 per cent of the company personally and through his holding company, Addax & Oryx Group. Mr. Gandur, a French-born Swiss citizen who lives in Geneva, told brokers and analysts not long ago that he would resist an offer pitched at less than $50 a share.

[COLOR=#c74b15][B]A[/B][/COLOR]
ddax Petroleum Corp. 周三表示，已接受中国石油化工股份有限公司(China Petroleum & Chemical Co., 简称：中国石化)发出的82.7亿加元（合72.2亿美元）的现金收购提议。

该交易是中国石化的一个重要战略举措，该公司不仅可以藉此控制在伊拉克Taq Taq大型油田的业务，还可以涉足勘探前景较好的尼日利亚和加蓬海上油田。

Addax董事会建议股东接受中国石化的提议，该公司高级管理人员也与中国石化达成协议，将所持38%的股份出售给后者。

对IRVING不是个好消息。。。不过IRVING本身对[B][SIZE=3]和 Addax [/SIZE][/B]就不是一个量级的。。。