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Tuesday, February 11, 2014

Another Canadian Junior Bites The Dust - Renegade At a 65% Premium


Pursuant to the Arrangement Agreement, Alexander has agreed to acquire all of the issued and outstanding common shares of Renegade (the "Renegade Shares") on the basis of holders of Renegade Shares ("Renegade Shareholders") receiving 2.25 common shares (0.5625 of a common share post-completion of the Alexander 4:1 share consolidation) of Alexander (the "Alexander Shares") for each Renegade Share held. Based on Alexander's five day weighted average trading price of $0.69, the implied price per Renegade Share is $1.55, representing a 65% premium to the five day weighted average trading price of the Renegade Shares of $0.94.

http://finance.yahoo.com/news/alexander-energy-ltd-combine-renegade-173800426.html

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