NAL To Acquire Breaker For $403 Million

摘要

NAL Oil & Gas Trust has agreed to acquire Breaker Energy Ltd. for $403 million in stock and debt, the latest of several acquisitions the trust has announced in recent years.The purchase will be financed through the issue of 24.7 million trust units at a deemed price of $12.54 per unit (representing $310 million) and the assumption of $93 million in Breaker net debt.Based on an exchange ratio of 0.475 NAL trust units for each Breaker common share, this represents a price of $5.96 per Breaker common share and a 12% premium using the preceding 20-day volume weighted average trading prices for Breaker common shares and NAL units.