EnCana Shares Fall Sharply after Mini-Tender Offer
February 13, 2006
EnCana Corp. shares (ECA.TO) fell sharply last week on the Toronto Stock Exchange to $46.71 by Friday morning from more than $55/share on Monday following news that the company recommended that shareholders reject an unsolicited mini-tender offer. TRC Capital Corp. (TRC Capital) made a tender offer for up to two million shares, or 25% of the outstanding common shares of the company, at an offer price of C$54.50/share.
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