MURPHY OIL <MUR> TO ACQUIRE CANADIAN SUBSIDIARY Murphy Oil Corp said its board proposed a reorganization in which it would acquire the 23 pct of common shares of its Canadian subsidiary not owned by the parent. Under the proposal, which would be undertaken as a court-approved plan of arrangement, shareholders of Murphy Oil Co Ltd of Calgary, Alberta, Canada, would be offered the option to receive 31 dlrs (Canadian) a share cash or the equivalent market value of common shares of the parent company.