ARC Financial to take Boulder Energy private in $268 mln deal
Calgary-based oil and gas producer Boulder Energy Ltd (TSX: BXO) has agreed to be taken private by Canadian private equity firm ARC Financial. ARC has offered $2.59 in cash for each of Boulder's issued and outstanding common shares, which implies a total value of about $268 million, including the company's net debt of about $143 million. Boulder's board of directors is recommending the transaction to shareholders and is expecting it will be completed on or about April 15th. Founded in May 2015, Boulder is primarily focused on operations at its multi-zone Belly River pool at Brazeau in the Alberta Deep Basin. ARC is investing in the company via ARC Energy Fund 8, which raised $1.5 billion last June.
25 February 2016•9 mins read
