Morning news summary: Vedanta Resources, Salamander Energy, Balfour Beatty, BTG


In the FTSE 100, Vedanta Resources (LON:VED) has entered into financing agreements for US$6 billion with a consortium of banks to fund the Vedanta Group's proposed acquisition of 51-60% of Cairn India Limited for US$8.5 billion to US$9.6 billion.

In the FTSE 250, Salamander Energy (LON:SMDR) has maintained production guidance for the full year at over 20,000 barrels of oil equivalent per day (boepd) and its production forecast of 30,000 boepd by 2013.

Balfour Beatty (LON:BBY) has acquired certain segments of Rok's business in affordable housing and general construction for a consideration of £7 million, of which £4 million has been paid in cash.

BTG (LON:BGC) will acquire Biocompatibles (LON:BII) for a cash and equity consideration of 430 pence per share.

On AIM, Ascent Resources (LON:AST) has secured a one year loan facility of £2.1 million and has entered into a £7 million Standby Equity Distribution Agreement with YA Global Master. The loan facility will be drawn to contribute to the financing of the Pg-11 evaluation well on the Petişovci-Lovaszi project area in which the company recently announced an independently verified P50 estimate of gas-in-place of 412 billion cubic feet.

Leni Gas & Oil (LON:LGO) has appointed Neil Ritson as Chief Executive Officer with immediate effect.

The PLUS listed Wessex Exploration (LON:WX.P) announced the results of a successful Placing and Open Offer raising £1.875 million before expenses. The company said that demand for the Placing and Open Offer was strong.

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