A quite surprising news has been announced today saying that Grey Wolf and Basic Energy Services have terminated the agreement and plan of merger formerly entered into Three major Companies i.e. Basic Energy Services, and Horsepower holdings, Inc on April 20th 2008 pursuant to Section 7.1(b)(iii) of the Merger Agreement.
The termination of the merger agreement [...]
In response to inquiries, Precision Drilling Trust (”Precision”) clarified today for its unitholders that it will immediately re-approach the board of directors of Grey Wolf, Inc. (”Grey Wolf”) with its June 24, 2008 US$10.00 per share proposal if the merger agreement with Basic Energy Services, Inc. (”Basic”) is terminated.
Precision will await the outcome of [...]
Grey Wolf, Inc. announced that Proxy Governance, Inc., a leading independent proxy voting advisory firm, has recommended that Grey Wolf stockholders vote in favor of the proposed merger with Basic Energy Services, Inc. at the upcoming Special Meeting of Stockholders scheduled for July 15, 2008. As previously announced, Egan-Jones also has recommended that Grey Wolf [...]
Grey Wolf, Inc. announced the recommendation from Egan-Jones Proxy Services, a leading independent proxy voting advisory firm, that Grey Wolf stockholders vote in favor of the proposed merger with Basic Energy Services, Inc. at the upcoming Special Meeting of Stockholders scheduled for July 15, 2008.
“Our Board of Directors strongly and unanimously believes that the Basic [...]
State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn.
Maaden plans to sell 462.5 million of stock - equivalent to 50 per cent of its share capital - at 20 riyals each with subscriptions closing [...]
Saudi Arabia’s oil minister says OPEC’s dominant producer has no immediate plans to boost crude output because there is no need to do so.
But Minister Ali Naimi said he was “concerned about the (price) level” and suggested Saudi Arabia is ready to raise production if the kingdom perceives that basics had changed, with supply no [...]
Grey Wolf Inc., which drills oil and gas wells, rejected a third unsolicited takeover bid from Precision Drilling Trust, reaffirming its commitment to a previous agreement with Basic Energy Services Inc.
Grey Wolf said the Precision proposal undervalues the company and does not represent a significant premium to shareholders.
Grey Wolf also did not Precision refusal to [...]
Drilling company Grey Wolf Inc. has turned down Precision Drilling Trust’s third unsolicited buyout offer.
In its third proposal, received June 24, Calgary-based Precision proposed to acquire all Houston-based Grey Wolf’s stock for $10 a share. The proposal contained a statement saying it was the company’s final offer for Grey Wolf .
The board of directors [...]
Range River Gold announced that it has agreed in principle terms for Northwest Nonferrous International Investment a 100% owned subsidiary of the Northwest Mining and Geological Exploration Bureau for Nonferrous Metals (NWME) to earn-in to the company’s Indee Project in Western Australia. The company and NWME have also agreed in principle terms for co-operation on [...]
Range River Gold announced that it has agreed in principle terms for Northwest Nonferrous International Investment a 100% owned subsidiary of the Northwest Mining and Geological Exploration Bureau for Nonferrous Metals (NWME) to earn-in to the company’s Indee Project in Western Australia. The company and NWME have also agreed in principle terms for co-operation on [...]
