Business news for Mon, 31 Dec 2007 & with words growth+industry. 2 news.

LONDON (MarketWatch) -- Kirk Kerkorian's Tracinda is going to buy 35% of Delta Petroleum for $684 million, or $19 a share, the companies said Monday. The investment is at 23% premium to Friday's close. This transaction will allow Delta Petroleum to accelerate development drilling activities in its core areas, including the Piceance and Paradox Basins. "Under (CEO) Roger (Parker's) leadership, Delta Petroleum has become a very important company in the industry, with valuable resource plays, a strong asset base and well-positioned exploration projects that we believe hold significant growth potential," Tracinda said.

The film industry was the brightest spot in economic development in 2007, say state experts, and despite layoffs at Intel and the national labs, New Mexico continues to have low unemployment and healthy growth.