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Mergers & Acquisitions Deal Analysis - Shell Canada Completes Acquisition Of Duvernay Oil
GlobalData, June 2010, Pages: 14
Mergers & Acquisitions Deal Analysis - Shell Canada Completes Acquisition Of Duvernay Oil
Summary
Shell Canada Limited (Shell Canada), completed the acquisition of Duvernay Oil Corp. (Duvernay Oil), for CAD5,900 ($5,849) million. Under the terms of the agreement, Duvernay Oil’s shareholders received CAD83 ($82.28) in cash for each common share. The offer represented a 36% premium over the average share price of the previous 30 days from the date the deal was signed. 61.66 million shares of Duvernay Oil, which represented approximately 97.7% of the common shares on a fully-diluted basis, were validly deposited to the offer by BRS Gas Corp., a Shell Canada unit.
BRS Gas exercised its statutory rights under the Business Corporations Act to compulsorily acquire the remaining Duvernay shares that were not deposited to the offer.
The transaction implied deal values of $228,613.46 per boe of daily production, $75.04 per boe of proved reserves, and $13,019.59 per acre of land, calculated based on the total deal value. GlobalData estimates that the Reserve Value Multiples (multiples calculated based on the estimated reserve value of Duvernay Oil) for the deal were $64.69 per boe of proved reserves, $41.84 per boe of 2P reserves and $197,092.2 per boe of daily production
Scope
- Rationale behind Shell Canada's acquisition of Duvernay Oil
- Strategic Benefits for Duvernay Oil
- Geography covered - Canada
- Deal Financials and Valuations
- Information on Shell Canada, Duvernay Oil
Reasons to buy
- Develop a sound undestanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in Canada oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
- Know about the major companies, which are adopting a divestment or acquisition strategy to enhance their business portfolios
- Learn about the key fiancial advisors in a particular segment in the Oil & Gas Industry
- Understand the various means of raising funds from the market.
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