Israel's Delek agrees to buy Canada's Ithaca Energy

(Reuters) - Israel's Delek Group said it had offered $524 million for the 80 percent of shares in Canadian oil producer Ithaca Energy Inc it does not already own in an agreed takeover bid. North Sea producer Ithaca said its board had recommended the Israeli conglomerate's cash offer of C$1.95 per share. The offer, which represents a premium of about 12 percent to Ithaca's closing price of C$1.74 on Friday, implies an enterprise value of about $1.24 billion, Ithaca said.