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Statoil to buy Brigham Exploration

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OSLO, Norway (AP) -- Norwegian oil company Statoil ASA said Monday it has agreed to buy Texas-based Brigham Exploration Co. for $4.4 billion in cash, giving it control of fields in North Dakota.

The offer represents $36.5 per share and is a 36 percent premium over the average trading price of Brigham stock for the last 30 days, Statoil said.

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