Pipestone shareholders to vote on Strathcona Resources merger

  • 📰 GlobalCalgary
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 61%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

A dissident shareholder's campaign against a proposed merger between Pipestone Energy Corp. and Strathcona Resources Ltd. will be put to the test Wednesday.

A dissident shareholder’s campaign against a proposed merger between Pipestone Energy Corp. and Strathcona Resources Ltd. will be put to the test Wednesday.

The deal would also see Strathcona, one of North America’s fastest growing oil and gas producers go public. Pipestone’s board supports the deal, arguing the company’s shareholders will be gaining “ongoing exposure to one of the largest, well diversified, upstream producers in North America one which has the capacity to grow its production significantly over the next decade.”Strathcona Resources is owned by Calgary-based private equity firm Waterous Energy Fund.

But Atlanta, Georgia-based GMT Capital Corp., which controls about 19 per cent of Pipestone’s shares, opposes the deal. GMT has issued a dissident proxy circular urging other shareholders to vote against Strathcona’s offer, arguing it significantly undervalues Pipestone’s shares.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 50. in BE

Belgique Dernières Nouvelles, Belgique Actualités