Published on 17 Oct 2022 on Reuters via Yahoo Finance
Founder Harold Hamm clinches deal to take shale producer Continental private
By Arunima Kumar and Ruhi Soni
(Reuters) -Continental Resources Inc said on Monday it had agreed to a sweetened offer from founder Harold Hamm to take the U.S. shale oil producer private at a valuation of about $27 billion.
Hamm, a legendary oilman who once called the Organization of the Petroleum Exporting Countries a "toothless tiger," said in June that he wanted to take the company private because public markets have not supported the oil and gas industry.