Business news for Mon, 31 Dec 2007 & with words company+deal. 4 news.

Tracinda said it will take a 35% stake in Delta Petroleum, making a $684 million investment in the energy company. The deal shows how many smaller energy companies could face difficulties financing their capital plans in coming years.

Transmeridian Exploration agreed to be acquired by its chief executive's Trans Meridian International in a deal that values the energy company at $350 million.

SAN FRANCISCO (MarketWatch) -- Consolidated Mercantile Inc. has completed the sale of Polyair Inter Pack Inc. to Glencoe Skydome Holdings, an affiliate of Glencoe Capital, in a private deal for $6.2 million. The sale has been under consideration as a part of the company's continuing evaluation of potential strategies to maximize shareholder value, according to Consolidated Mercantile.

Worldwide Pants, the production company of "Late Show with David Letterman" and "Craig Ferguson," has made an agreement with the Writers Guild of America. The deal would give Letterman a leg up on the competition, according to analysts; he'd be able to draw on prepared written comedy material.