Gulf Canada bid for Hiram Walker Resources.

Gulf Canada, recently revamped under the control of the Reichmann family of Toronto, is offering to buy 38% of the outstanding voting shares of Hiram Walker Resources Ltd. of Toronto--a deal that could be worth about $720 million. The bid would give Gulf Canada, 80% owned by the the Reichmann family, more than 50% of Hiram Walker, which also has major energy operations in Canada. Analysts said the offer was likely a first move toward control of Hiram Walker.