Whitecap Resources Acquires Invicta Energy for $60.2 Mln
Whitecap Resources Inc. (WCP.TO) has entered into an arrangement agreement to acquire all the issued and outstanding common shares of Invicta Energy (VCA.V). The total transaction value is approximately $60.2 million, including the assumption of net debt.
Invicta shareholders will receive, at their election, for each Invicta share held, either: (i) 0.05891 of a Whitecap common share; or (ii) $0.51911 in cash, subject to an aggregate cash maximum of $10.7 million.
The company also revised its 2013 production guidance, increasing it by 3% to 17,200 - 17,400 boe/d. Capital spending is also increased by 3% to $160 million from its previous guidance provided.
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