Pacific Rubiales announced that it has entered into exclusive discussions regarding an o er from ALFA and Harbour Energy, whereby the two companies would acquire all of the issued and outstanding common shares of Pacific Rubiales, not owned by ALFA, for C$6.50 per share. We have increased our Pacific Rubiales’ target price to $6.50 per share (previously $2.50 per share). We maintain our Underperform ranking and recommend that shareholders sell on strength. ALFA currently owns approximately 19% ....