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Monday, March 25, 2013

Equal Energy Gets a $4 Per Share Takeover Offer

BIRMINGHAM, AL, March 25, 2013 /CNW/ - Montclair Energy, LLC ("Montclair") announced today that it delivered a letter to the Board of Directors of Equal Energy Ltd. (NYSE: EQU; TSX: EQU) ("Equal Energy") on February 27, 2013in which Montclair proposed to acquire all of the current outstanding shares of common stock of Equal Energy for$4.00 per share in cash and in subsequent conversations, confirmed that the $4.00 share price would also apply to Equal Energy managements' restricted shares as well.  The price offered for Equal Energy represents a 28% premium over the 20 day volume weighted average price of Equal Energy's common shares on the New York Stock Exchange for the 20 trading day period preceding the date of Montclair's letter.   In the letter, Montclair advised Equal Energy's board that it is prepared to expeditiously proceed in a process that leads to a definitive agreement.

http://www.newswire.ca/en/story/1135089/montclair-energy-llc-announces-proposal-to-purchase-equal-energy-ltd

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