Total to Acquire All Common Shares of Canadian Oil Sands Co. UTS Energy
Total E&P Canada Ltd. (the "Offeror"), a wholly-owned subsidiary of Total S.A., has commenced its previously announced offer to acquire all of the outstanding common shares of UTS Energy Corporation ("UTS") at a price of Can $1.30 per share (the "Offer") by advertisement in the national edition of The Globe and Mail and in La Presse. A copy of the Offer and related circular (the "Circular") has been delivered to UTS and filed with the securities regulatory authorities in Canada and will be publicly available through the internet under UTS' profile at www.sedar.com.
A request has been made to UTS for a list of its shareholders, holders of options, holders of share appreciation rights and holders of deferred share units for purposes of disseminating the Offer and Circular. The Offeror expects to mail the Offer and Circular to all registered shareholders and other security holders of UTS as soon as practicable following receipt of the requested lists.
The Offer is a 100% cash offer and represents a premium of approximately 57% over the closing price of UTS's shares on January 27, 2009 and approximately 51% over the volume weighted average trading price for the prior 30 trading days. The Offer will be open for acceptance until March 30, 2009. Further details of the Offer are contained in the Offer and Circular and in the aforementioned advertisement.
- Hoegh LNG: Pakistan LNG Import Project Consortium Folds (Nov 16)
- France's Total Buys Engie's LNG Business For $1.5B (Nov 08)
- Report: Quarter Of Oil Refineries Risk Closure Under Climate Goals (Nov 02)
Company: UTS Energy Corp. more info
- Total E&P Concludes C$1.5B UTS Acquisition (Oct 01)
- UTS Sells Oil Sands Assets to Imperial, ExxonMobil (Nov 03)
- Derrick's Study Shows $20B of O&G Deals Currently on the Market (May 28)
Company: Total E & P Ltd more info
- Petrofac Secures 3-Year North Sea Services Contract Extension (May 19)
- NPD Grants Tullow, Total Drilling Permits Offshore Norway (May 18)
- Total, Wintershall Drill Dry Wells Offshore Norway (Mar 02)