Kosmos Energy walks away from Tullow Oil acquisition

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U.S. oil and gas firm Kosmos Energy walked away from its pursuit of West Africa-focused Tullow Oil on Tuesday, without specifying any reason for the decision, prompting a 10% drop in Tullow's shares. Kosmos' announcement comes less than a week after the companies said they were in early talks for a potential deal that would have created a West Africa-focused producer. New York-listed Kosmos stock surged almost 13% in pre-market trading following the news.

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