Business news for Mon, 31 Dec 2007 & with word premium. 3 news.

Would you buy a bottle of South Okanagan merlot produced at the expense of the spadefoot toad or enjoy a premium glass of icewine knowing it had helped to eliminate the sage thrasher? Given a choice, would you support a winery that tried to live with nature rather than squeeze i …

Tracinda will take a 35% stake in Delta Petroleum, under an agreement for the firm to make a $684 million investment in the energy company and acquire shares at a price representing a 23% premium from Friday's closing price.

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.