Business
Iron Horse Acquisition Receives Clearance Pursuant to the Competition Act
Calgary, Alberta--(Newsfile Corp. - August 20, 2025) - Trican Well Service Ltd. (TSX: TCW)&#...
About this update from Trican Well Service Ltd.
[{"type":"text","content":"Iron Horse Acquisition Receives Clearance Pursuant to the Competition ActCalgary, Alberta--(Newsfile Corp. - August 20, 2025) - Trican Well Service Ltd. (TSX: TCW) (\"Trican\") is pleased to announce that it has received clearance from the Competition Bureau, in the form of a No-Action Letter, with respect to the previously announced acquisition of all of the issued and outstanding shares of Iron Horse Energy Services (\"Iron Horse\") (the \"Acquisition\"). Iron Horse is a premium provider of fracturing and coiled tubing services in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin. Under the terms of the Acquisition, Iron Horse shareholders will receive approximately $77.35 million in cash and approximately 33.76 million common shares of Trican. Following closing of the Acquisition, Tom Coolen, Chairman and CEO of Iron Horse, will be appointed to the board of directors of Trican.\"We are delighted to have received a no-action letter from the Competition Bureau, completing a critical stage of our acquisition process. This acquisition augments our strategy and aligns with our long-term vision for growth and innovation in Canada. We look forward to better serving customers in all areas of the basin and creating meaningful value for our shareholders,\" said Brad Fedora, Trican's President and Chief Executive Officer. The Acquisition is expected to close on or about August 27, 2025, subject to the satisfaction or waiver of customary closing conditions and TSX listing approval of the common shares of Trican to be issued pursuant to the Acquisition.FORWARD-LOOKING STATEMENTSThis document contains certain forward-looking information based on Trican's current expectations, estimates, projections and assumptions that were made by Trican in light of information available at the time the statement was made. Forward-looking information that addresses expectations or projections about the future, and other statements and information about Trican's strategy for growth, expected and future expenditures, costs, operating and financial results, future financing and capital activities are forward-looking statements. Forward-looking information in this press release is identified by the use of terms and phrases such as \"anticipate\", \"achieve\", \"estimate\", \"exp...