Is Bison for sale??
Posted: Wednesday Oct 26 7:15:52PM 2005
Well, your rumour was true. Some details are below. Mission Oil & Gas Inc. ("Mission") (TSX:MSO) and Bison Resources Ltd. ("Bison") (TSX VENTURE:BIS.A) are pleased to announce they have entered into an arrangement agreement (the "Arrangement Agreement") which provides that Mission will acquire all of the issued and outstanding common shares of Bison ("Bison Shares") pursuant to a plan of arrangement under the Business Corporation Act (Alberta) (the "Arrangement"). The purchase price payable by Mission for each Bison Share will be, at the election of the holder, $8.65 in cash or 1.0949 common shares of Mission ("Mission Shares"). A total of 4,324,012 Mission Shares will be issued to holders of Bison Shares pursuant to the Arrangement. In the event that the Bison shareholders elect, in the aggregate, to receive more than 4,324,012 Mission Shares, the amount of Mission Shares to be received by a holder electing to receive Mission Shares for a Bison Share will be reduced pro rata and the balance of the purchase price for that Bison Share will be paid in cash. In the event that the holders of Bison Shares elect to receive less than 4,324,012 Mission Shares, the amount of cash to be received by a holder electing to receive cash with respect to a Bison Share will be reduced pro rata and the balance of the purchase price for that Bison Share will be paid in Mission Shares.
Posted: Monday Oct 24 2:42:32PM 2005
I have heard a rumour that Bison has put itself up for sale about three weeks ago and has some interested bidders. Not sure if this is true or not can anyone else confirm?