Connacher Oil & Gas Spikes After Receiving Buy-Out Offer; Shares Now Ahead 47%

Connacher Oil and Gas Ltd (CLL.TO) is getting a big push, with shares adding 25 cents in recent minutes to carry Connacher shares to 90 cents each and an overall gain of 29 cents a share after it said the company received a confidential, non-binding and unsolicited proposal from an unidentified entity to acquire all of its outstanding shares.

Connacher also has been recently touting its improved liquidity and ongoing business plan with investment advisors. It also said selling prices for bitumen are up over 50% above average.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.