UPDATE: Flint Energy Up Nearly 4% on Acquisition of Carson Energy Services for $112 Million Cash
Flint Energy Services Ltd. (FES.TO) went up by about 4% after announcing that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Carson Energy Services Ltd., a privately held energy services company based in Saskatchewan.
The company said the purchase price to be paid at closing is comprised of $112 million in cash and 2 million Flint common shares, plus up to an additional $30 million earn-out spread over the next three years, subject to closing adjustments.
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