Trican Well Service Ltd (TOLWF)

[eFinanceMarkets]

Trican Well Service to buy Canyon Services in $637M deal
Trican Well Service (OTCPK:TOLWF) agrees to acquire Canyon Services Group (OTC:CYSVF) in an all-stock deal valued at $637M, including debt.
Canyon shareholders will receive 1.7 shares of Trican for each share they own, translating to an offer price of $6.63 per Canyon share, a 32% premium to yesterday's closing price in Toronto.
Trican says the combined company will have 675K HHP of available fracturing capacity, a leading footprint of service bases across western Canada, and a complementary suite of products and services across cementing, coiled tubing, nitrogen, industrial services and fluid management.