Rigel Energy, a medium-sized producer based in Calgary, got the desired results from its summer-long, self-advertising campaign last week in the form of a $C1.2 billion merger offer from Talisman Energy. Rigel’s board of directors said it will recommend acceptance of the offer to the company’s shareholders. Talisman is expected to mail its formal takeover bid offer on Sept. 2, and the offer will be open for acceptance for at least 21 days, Rigel said.
Sized
Articles from Sized
Talisman to Add Rigel for $C1.2 Billion
Rigel Energy, a medium-sized producer based in Calgary, got thedesired results from its summer-long, self-advertising campaignyesterday in the form of a $C1.2 billion merger offer from TalismanEnergy. Rigel’s board of directors said it will recommendacceptance of the offer to the company’s shareholders. Talisman isexpected to mail its formal takeover bid offer on Sept. 2, and theoffer will be open for acceptance for at least 21 days, Rigel said.
Canadian Rigel Energy on the Market
Rigel Energy Corp. of Calgary, a medium-sized Canadian producer,is opening a data room June 14 to solicit proposals from partiesinterested in “making an investment in the equity of thecorporation, merging with the corporation, acquiring certain ofRigel’s assets, or making an offer for 100% of the corporation,”according to Don Gardner, Rigel’s chief financial officer. Aspecial committee has been appointed to conduct the process which”will be broad, open and transparent,” Gardner told the company’sannual meeting June 2.
Canadian Rigel Energy on the Market
Rigel Energy Corp. of Calgary, a medium-sized Canadian producer,is opening a data room June 14 to solicit proposals from partiesinterested in “making an investment in the equity of thecorporation, merging with the corporation, acquiring certain ofRigel’s assets, or making an offer for 100% of the Corporation,”according to Don Gardner, Rigel’s chief financial officer. Aspecial committee has been appointed to conduct the process which”will be broad, open and transparent,” Gardner told the company’sannual meeting.
Wall Street Turns Cold Shoulder To Impressive NCE, NSP Merger
New Century Energies (NCE) and Northern States Power (NSP), twoefficiently-run but merely mid-sized combination utilities, joinedthe merger parade last week, promising savings, greaterefficiencies and economies of scale. But the horns on Wall Streetdidn’t toot.
New Century, NSP Marriage Creates Top-5 Utility
New Century Energies and Northern States Power, two mid-sizedcombination utilities, decided on marriage yesterday to create amuch larger company, fend off competitors and prepare for comingderegulation. Through a $4.7 billion merger of equals ($9 billionbased on combined market capitalization), the companies will createa Minneapolis-based electric and gas utility conglomerate with 3million power customers and 1.5 million gas customers in 12 statesfrom Mexico to Canada.
Sempra Partners With HVAC Provider
Sempra Energy Solutions, the energy services unit of SempraEnergy, and Comfort Systems USA formed a strategic alliance todeliver energy solutions to mid-sized commercial and industrialcustomers. The companies will jointly market products and servicesinitially in California and the Western United States, andeventually nationwide.