New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 17, 2013
07:34 EDTEQUEqual Energy says proxy will address items raised by Montclair and others.
Equal Energy advises shareholders to take no action regarding a news release issued yesterday by Montclair Energy. Equal said it will soon file a proxy statement which will provide additional detail on the definitive agreement to be acquired by Petroflow Energy as announced on December 9. As previously disclosed, Equal agreed to be acquired by Petroflow at a price of $5.43 per share. Equal advises shareholders that it believes the process leading up to the agreement with Petroflow was extensive, competitive and fair. Equal said, "Included in this proxy is information about the process and the rationale behind the board's ultimate decision. In addition, the proxy statement will include information that will directly address items raised by Montclair and others. "
News For EQU From The Last 14 Days
Check below for free stories on EQU the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 11, 2014
12:38 EDTEQUMontclair Energy seeks leveraged recapitalization at Equal Energy
Montclair Energy announced that it has published a detailed proposal to maximize shareholder value at Equal Energy through a recapitalization of the company. Montclair's proposal includes an analysis of the superiority of Equal conducting a leveraged recapitalization rather than completing the still pending sale to Petroflow Energy. The proposal includes the following conclusions: the Petroflow deal significantly undervalues the company; a sale of the company would preclude investors from participating in the company's future potential, with a leveraged share repurchase giving investors immediate capital return and future appreciation potential. Montclair said that in total, it estimates that a levered share repurchase can deliver total share price realization of $7.01-$9.97, representing a 29%-84% premium to the Petroflow offer of $5.43 per share.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use