Tag

Pacific Rubiales Energy Corp said on Wednesday that Mexican industrial conglomerate Alfa SAB de CV and energy investment firm Harbour Energy Ltd have dropped their plans to buy the Canadian oil and gas company.

Mexico’s Alfa SAB and partner Harbour Energy Ltd dropped their plans for the acquisition of Pacific Rubiales Energy Corp after the driller’s largest shareholder turned down a takeover offer once valued at as much as $1.7 billion. Analysts cut their target price for...