One-Page Deal Sheet
Trinidad Drilling Folds in CanElson - 163 Land Rigs
Trinidad Drilling Ltd. Canelson Drilling Inc.
Announced Date
June 11,2015
Close Date
August 11,2015
Transaction Type
Corporate
Location
Region
United States,Canada
Country
Canada
Country
United States
Transaction Details: Subscribe to see
Closing Announcement - August 11, 2015
Trinidad Drilling Ltd. and CanElson Drilling Inc. have announced that they have closed their previously announced strategic business combination.
Under the terms of the Transaction, Trinidad has acquired all of the issued and outstanding common shares of CanElson and CanElson shareholders will exchange each of their CanElson common shares for 1.0631 common shares of Trinidad, or $4.90 in cash, up to a maximum of $50 million in aggregate. As a result of the elections made by CanElson shareholders, Trinidad will pay the full $50 million in cash and the…
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