Deals
Cobalt Jumps Most Since 2012 on Talk of Buyout, Angola Sale
- Deal to sell Angola drilling rights to Sonangol fell through
- Cobalt could get interest from integrated oil cos.: analyst
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Offshore oil explorer Cobalt International Energy Inc. jumped the most in four years after an analyst upgraded the stock and said it could be a takeover target for bigger drillers.
Shares in the Houston-based company climbed as much as 42 percent, the biggest intraday increase since February 2012, and were 24 percent higher at $1.30 as of 2:25 p.m. in New York. The stock had fallen 81 percent for the year before Wednesday.