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Stock Market & Financial Investment News

News Breaks
December 31, 2013
18:05 EDTEQUEqual Energy recommends shareholders vote to approve acquisition by Petroflow
Equal Energy Ltd. filed a preliminary information circular and proxy statement recommending that Equal shareholders vote for an arrangement under which all of the issued and outstanding common shares of Equal would be acquired by a wholly-owned subsidiary of Petroflow Energy Corporation for $5.43 per Equal share. Equal's board unanimously recommended that the Equal Shareholders vote for the arrangement.
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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.

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