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MFC Industrial Takes-Up 94% of Compton Shares

By: MT Newswires
Posted: 9/7/2012 7:00:00 AM
Referenced Stocks: MIL

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.