Total has announced that it no longer intends to make a takeover bid for Strad Energy Services due to Strad’s implementation of a shareholder rights plan. Total believes that a 120 day review period is too long and exposes the Company to unacceptable risk levels. Note that Total first provided correspondence to the Strad management team on September 1, 2015 about a proposed takeover, thus giving sufficient time to
consider an offer.
24 Sep 2015
Total Energy Services Rescinds Intention to Make a Takeover Bid for Strad Energy Services
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Total Energy Services Rescinds Intention to Make a Takeover Bid for Strad Energy Services
Total Energy Services Inc. (0S9F:LON) | 0 0 0.0% | Mkt Cap: 638.1m
- Published:
24 Sep 2015 -
Author:
Ian B. Gillies -
Pages:
3
Total has announced that it no longer intends to make a takeover bid for Strad Energy Services due to Strad’s implementation of a shareholder rights plan. Total believes that a 120 day review period is too long and exposes the Company to unacceptable risk levels. Note that Total first provided correspondence to the Strad management team on September 1, 2015 about a proposed takeover, thus giving sufficient time to
consider an offer.