Exclusive-Northern Oil and Gas in bid to acquire smaller rival Granite Ridge, sources say
(Reuters) -Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was at a roughly 20% premium to the target's share price. While Granite Ridge's management has rebuffed the overtures so far, Northern remains interested in a deal and could sweeten its offer next year, the sources said, requesting anonymity as the discussions are confidential.