Business
Obsidian Energy Provides Compelling Reasons why Bonterra Shareholders Should Tender their Shares to the Offer
Obsidian Energy Provides Compelling Reasons why Bonterra Shareholders Should Tender their...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n \n \n \n Obsidian Energy Provides Compelling Reasons why Bonterra Shareholders Should Tender their Shares to the Offer\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Combination Creates a Stronger Company with a Far Superior Future\n \n \n \n \n Markets are rewarding Consolidation with Share Price Appreciation\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Jan. 14, 2021\n \n /CNW/ - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (\"\n \n Obsidian\n \n \n Energy\n \n \" or the \"\n \n Company\n \n \") today provided Bonterra Energy Corp. (\"\n \n Bonterra\n \n \") shareholders with compelling reasons why combining Bonterra and Obsidian Energy is in their best interests through increased shareholder value.\n \n \n \"Our in-depth financial and operational analysis clearly shows that the value as a combined entity results in far greater share price appreciation and upside than either company could achieve on a stand-alone basis under a variety of commodity price scenarios,\" said\n \n Stephen Loukas\n \n , Obsidian Energy's Interim President and CEO. \"The pace of consolidation in the industry has increased substantially with recent deal announcements in both the mid and large cap space, which the market has rewarded with significant share price appreciation. It is becoming clear that companies who do not act may be left behind to the detriment of their shareholders. Notwithstanding these obvious market trends, Bonterra's management team and board has refused to engage. As a result, if Bonterra shareholders truly want to protect and grow the value of their investment, they need to take matters into their own hands.\"\n \n \n Obsidian Energy urges Bonterra shareholders to be part of a stronger company with a far superior future by accepting the Company's offer (the \"\n \n Offer\n \n \") to purchase all of the outstanding Bonterra common shares (\"\n \n Bonterra Shares\n \n \") in consideration for two Obsidian Energy common shares for each Bonterra Share tendered to the Offer. The transaction...