TransGlobe Energy, Caracal Energy to merge

TransGlobe Energy (TGA) and Caracal Energy (CCAXF) agree to merge through an exchange of shares, creating a $1.8B venture focused on oil production in Africa with improved finances and bigger growth potential.

Caracal shareholders are expected to hold ~65.6% of the new company, with the reaminder held by former TGA shareholders.

TGA +4.5% premarket.

Comments (2)
  • rocback
    , contributor
    Comments (1100) | Send Message
    Too low. TGA is worth more.
    17 Mar 2014, 11:15 AM Reply Like
  • 395308
    , contributor
    Comments (102) | Send Message
    this makes no sense... my vote is no.
    17 Mar 2014, 12:29 PM Reply Like
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