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Duvernay Had Unusual Trading Ahead Of Shell Buy: significantly deviant behaviour

CNNMoney.com

Research Firm: Duvernay Had Unusual Trading Ahead Of Shell Buy

Dow Jones

LONDON -(Dow Jones)- Duvernay Oil Corp’s (DDV.T) had “unusual” trading in the weeks ahead of a friendly offer from Royal Dutch Shell PLC (RDSB.LN), Canadian financial research service Measuredmarkets Inc. said Monday.

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; [email protected] dowjones.com

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