Northern Oil and Gas Sets Its Sights on Acquiring Granite Ridge Resources - Reuters

Investing.com -- Minneapolis-based Northern Oil and Gas has made at least two acquisition offers for Granite Ridge Resources, a smaller U.S. producer operating in basins such as Permian and Eagle Ford. This information was reported in an article published by Reuters on Friday afternoon, based on sources who wished to remain anonymous due to the confidential nature of the discussions.
According to the same sources, Northern's most recent offer was made in the past few weeks and was approximately 20% higher than Granite Ridge's stock price. Despite the attractive offer, Granite Ridge management has so far rejected Northern's efforts.
However, sources noted that Northern remains interested in acquiring Granite Ridge and may increase its offer next year. Both companies preferred not to comment on the matter; while Granite Ridge declined to comment, Northern did not respond to requests for comment.