MFC Industrial Takes-Up 94% of Compton Shares

By Staff,

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MFC Industrial Ltd. ( MIL ) has, through its subsidiary, taken-up and accepted for payment approximately 24.7 million Compton Petroleum Corporation shares deposited as of the expiry of the offer, representing approximately 94% of the outstanding Compton shares subject to the offer.

MFC intends to exercise its rights under the compulsory acquisition provisions of the Business Corporations Act (Alberta) to acquire all of the outstanding Compton shares that it does not currently own.

MIL fell 1% in the after-hours trade, to reach $8.50.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: MIL

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