Murphy Oil Corp said its boardproposed a reorganization in which it would acquire the 23 pct
of common shares of its Canadian subsidiary not owned by the
parent.
    Under the proposal, which would be undertaken as a
court-approved plan of arrangement, shareholders of Murphy Oil
Co Ltd of Calgary, Alberta, Canada, would be offered the option
to receive 31 dlrs (Canadian) a share cash or the equivalent
market value of common shares of the parent company.
 Reuter
