Ensign Energy Services offers to buy Trinidad Drilling in $947 million dealStaff Writer | August 13, 2018
Ensign Energy Services announced that it intends to commence an offer to acquire, through a wholly-owned subsidiary, all of the issued and outstanding common shares of Trinidad Drilling for $1.68 in cash per common share.
Acquisition The offer represents approximately a 20% premium
Including Trinidad’s estimated outstanding net debt of $477 million as at June 30, 2018, the total value of the transaction is approximately $947 million. ■