Premier Oil plans $500 million rights issue for North Sea buying spree
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LONDON (Reuters) - Premier Oil is set to buy North Sea assets from BP and increase its stake in the Tolmount gas project, funded by a $500 million (379.97 million pounds) rights issue, but faces opposition from hedge fund ARCM, which vowed to fight the plans.Shares in UK-based Premier surged as much as 19% after it said on Tuesday that it plans to buy stakes in the Andrew and Shearwater oilfields from BP for $625 million and increase its stake in the Tolmount project in a deal with South..