North West Oil Group, Inc. (NWOL)

[leebret]

North West Group valued Nord @ $2.20 per share in the merger and that gave the share holders 41 percent of the new company.

Meaning they valued northwest at $3.15 per share for the remaining 59 percent of the combined company.

Break down:

$5.35 per share x .59 percent = $3.15
leaving the rest at $2.20 per share adding both Together equals $5.35.

Below is how they reported it on May 11th:
Someone have a different take?



May 11, 2006 (M2 EQUITYBITES via COMTEX) -- Nord Oil International Inc (NDOL), an oil & gas junior company, reported on 10 May that its boards of directors and majority shareholders have approved and signed a merger agreement with The North-West Oil Group.

Under the terms of the agreement Nord Oil International will acquire by way of a reverse merger 100% of the outstanding shares of two divisions of the North-West Oil Group: North-West Oil Group-Saratov Ltd and Neftegazenergo Ltd.

Nord Oil International shareholders will own a total of 41% and the shareholders of the North-West Oil Group will own 59% of the newly created entity, which is to be renamed the Northwest Oil Group.

The total merged enterprise value is currently estimated at USD1.25bn, representing approximately USD2.20 per Nord Oil International share post-merger.

The current board of directors is being changed to include four members appointed by the North-West Oil Group shareholders out of a total of seven board members. Ernest Malyshev of North West Oil Group becomes the new president and CEO with immediate effect.