Billionaire Harold Hamm eyes taking Continental private amid energy boom

Harold Hamm. Picture: HANDOUT via REUTERS/CONTINENTAL RESOURCES

Hamm, a legendary oilman who once called the Opec a “toothless tiger”, is offering $70 per share to those holding the roughly 17% of the company that his family does not already own. RBC Capital Markets analyst Scott Hanold said it would likely take a higher price to convince shareholders to sell, noting most analysts in the space had a price target of between $78 and $79 per share.

In a letter to employees detailing his go-private offer, Hamm lamented the public markets have not supported the oil and gas industry and limited its growth, especially since the pandemic.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zuckerberg, Musk, and Bezos have all seen net worth drops of at least R1 billion this year | BusinessinsiderThe billionaires' net worths have seen sharp declines, as tech stocks have taken a hit this year after pandemic booms. ...net worths decline by a combined $200 billion (equivalent to some R3.2 billion)... since when is the rand stronger than the dollar? Someone got their millions, billions, trillions confused
Source: BISouthAfrica - 🏆 34. / 51 Read more »

SA billionaire Patrice Motsepe has big renewable energy plans for AfricaBruce Whitfield speaks to Brian Dames, CEO at African Rainbow Energy. 🤭 Thanks but no thanks! maybe his brother-in-law can bung him a few bob.
Source: ewnupdates - 🏆 30. / 53 Read more »

South African billionaire plans major renewable energy pushAfrican Rainbow Energy and Power, backed by South African billionaire Patrice Motsepe, is looking to boost renewable power generation sevenfold to become one of the biggest clean electricity providers on the continent. Ene le swaar sa gage have plans for us. Old news... Why do you think Eskom is sinking...
Source: mybroadband - 🏆 11. / 67 Read more »

More South Africans set to become millionairesThere will be a boom in the number of millionaires and billionaires coming out of South Africa over the next decade, a new report by Henley & Partners and New World Wealth shows. Makes sense. A few years ago every dude in Zim was a millionaire. The Circus of Scammers and officials are been waiting for this ,,,what Covid !!! Lets share this among Us.. well done world bank ..maybe you also have a backhand on this!
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Crypto billionaires feel the pinch amid market slumpThe personal fortunes of the world’s richest cryptocurrency disciples plummet as the price of bitcoin drops to new lows
Source: BDliveSA - 🏆 12. / 63 Read more »

Patrice Motsepe plans to boost clean power generation sevenfoldAfrican Rainbow Energy and Power, backed by billionaire Patrice Motsepe, is looking to boost renewable power generation sevenfold to become one of the biggest clean electricity providers on the continent. As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of Allison_Grillo I made a successful withdrawal of R 200,000 with the help of Allison_Grillo. Derek_Hanekom I never believe in making money online before but since I started seeing different people testifying about Cynthia_Neliwe1 ,i was so interested in to investing with her because all friends who Invested have all received their profits successfully and so do I Cynthia_Neliwe1 That's why Ramaphosa is sabotaging eskom, so that he paves way for his brother in law.
Source: TimesLIVE - 🏆 28. / 59 Read more »