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A unit of Buffalo-based National Fuel Gas Co., will make a $16.25-a-share takeover offer for all of Player Petroleum Corp.'s outstanding shares, the Calgary-based company said. Player has about 8.5 million shares outstanding, which closed yesterday at $16.05 each, up 49 cents on the Toronto Stock Exchange. The offer is valued at a total of about $165-million including assumed debt and working capital deficiency of about $10-million. Player said its board supports the offer.

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