Cona Resources moves ahead with Waterous takeover

Calgary crude oil producer Cona Resources Ltd (TSX: CONA) has agreed to be taken private by Waterous Energy Fund, a Canadian energy private equity firm and the company’s majority investor. The deal, which finalizes an initial proposal disclosed earlier in March, will see Waterous acquire those Cona common shares it does not already hold for $2.55 per unit. All board members, excluding Waterous Managing Partner and CEO Adam Waterous, and certain executive officers have agreed to vote in favour. Cona shareholders will vote at a special meeting on or about May 18.

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