Market impact: Positive, due to modest accretion and acquired tax pools. Canadian Natural Resources ('CNQ') and PrairieSky ('PSK') announced this morning that PSK will be acquiring most of CNQ's royalty lands (~81% of CNQ's royalty production) for $1.8 billion. PSK will pay CNQ $680 mm in cash (to be raised via a concurrent private placement), and issue 44.4 mm PSK shares to CNQ at an ascribed price of $25.20/share.
09 Nov 2015
PURCHASE OF CNRL ROYALTY LANDS, ANNOUNCES CONCURRENT FINANCING
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PURCHASE OF CNRL ROYALTY LANDS, ANNOUNCES CONCURRENT FINANCING
PrairieSky Royalty Ltd (PSK:TSE) | 0 0 0.0% | Mkt Cap: 6,860m
- Published:
09 Nov 2015 -
Author:
Michael P. Dunn -
Pages:
5
Market impact: Positive, due to modest accretion and acquired tax pools. Canadian Natural Resources ('CNQ') and PrairieSky ('PSK') announced this morning that PSK will be acquiring most of CNQ's royalty lands (~81% of CNQ's royalty production) for $1.8 billion. PSK will pay CNQ $680 mm in cash (to be raised via a concurrent private placement), and issue 44.4 mm PSK shares to CNQ at an ascribed price of $25.20/share.