Total Energy Services Inc.Grey Market
Sep. 24, 2015, 10:27 AM
- Canadian oilfield services provider Total Energy Services (OTC:TOTZF) says it will not pursue a takeover bid for Strad Energy Services (OTC:STRDF).
- Strad earlier adopted a poison pill that required any takeover bid to remain open for 120 days in order to qualify as a permitted bid, which Total Energy says exposes it to an unacceptable level of risk in the current market environment.
- Total Energy currently owns slightly less than 10% of Strad's outstanding shares.