Secure is offering 1.2757 common shares for each
Secure's shares rose by as much as 15.7 per cent on Tuesday morning to
In a joint news release, the companies say the merger will result in a stronger midstream and environmental solutions business that will have total enterprise value of about
They say it is expected to provide improved free cash flow from greater scale and annual integration cost savings of about
Upon completion, existing Secure shareholders will own about 52 per cent of the company.
"We believe the combination has significant strategic benefits from both companies, but the key item to watch for will be
Boards of both companies unanimously support the transaction, but it will also require a majority vote by shareholders, as well as regulatory and court approvals, the companies said.
This report by
Companies in this story: (TSX:TEV, TSX:SES)
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