MURPHY OIL &lt;MUR> TO ACQUIRE CANADIAN SUBSIDIARY
  Murphy Oil Corp said its board
  proposed 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.
  

