Deals - Acquisition, Mergers, Divestitures
Pinecrest Details Spartan Oil Receipt of Offer
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Pinecrest Energy Inc. has been informed by Spartan Oil Corp. that Spartan has received an unsolicited offer from a third-party to acquire all of the issued and outstanding common shares of Spartan.
Pinecrest remains committed to completing the plan of arrangement contemplated by the arrangement agreement between Pinecrest and Spartan dated November 20, 2012 providing for the combination of Pinecrest and Spartan.
The Pinecrest Board of Directors has unanimously (other than directors who are not eligible to vote on such matters in accordance with the provisions of the Business Corporations Act (Alberta)) determined that the Arrangement is in the best interests of Pinecrest and the shareholders of Pinecrest, approved the Arrangement and the entering into of the Arrangement Agreement and…
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