AEC extends Pacalta offer, avoids poison pill
Article Abstract:
Alberta Energy Co Ltd (AEC) has extended its hostile takeover bid for Pacalta Resources Ltd of Calgary, Alberta, by two weeks from Apr 7 to Apr 21, 1999. The extension would qualify the proposal as a permitted bid under Pacalta's shareholder poison pill plan because it is open for 35 days. The move would prevent the activation of the poison pill which would have flooded the market with cheap Pacalta shares. Under the proposed bid, AEC will swap 0.235 of an Alberta Energy share for each Pacalta share. The deal is valued at $415 million based on the Apr 8 closing prices.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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EnCana cuts Syncrude stake
Article Abstract:
EnCana Corp. will sell a minority share of the Syncrude project in Alberta to Canadian Oil Sands Ltd. The deal for the 10% share is valued at 1.07 billion Canadian dollars.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 2003
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