OTTAWA: Canadian oilfield services provider Trican Well Service Ltd TCW.TO said it would buy smaller rival Canyon Services Group Inc FRC.TO in a deal valued at about C$637 million ($475.5 million), including debt.
Canyon shareholders will receive 1.7 shares of Trican for each share they own. That translates to an offer price of C$6.63 per Canyon share, representing a 32 percent premium to the stock’s Tuesday close.
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