4.6 C
Fort St. John
Sunday, May 19, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home News Precision Take Over Bid

Precision Take Over Bid

Advertisement

Calgary-based Precision Drilling Trust has launched an unsolicited1.61 billion dollar takeover offer, for the contract drilling company Grey Wolf.

It gives the Houston based target firm an alternative to consider, to its planned merger with Basic Energy Services.

In a letter to Thomas Richards, the chairman and CEO of Grey Wolf, Precision said its bid was better than the Basic deal.

Grey Wolf, which operates in the U.S. and Mexico, reported a profit of 169.9 million U.S. in the 2007 calendar year.

get the latest news in your inbox

Author

Previous article20/20 Visioning Results
Next articleBC Gas Monthly Sale
Advertisement

Local Events

Must Read

City of Fort St John to hold Open House on Kin...

FORT ST. JOHN, B.C. - The City of Fort St. John will be holding an Open House in regards to the future of Kin...