Coral Hill Energy flags "termination" of acquisition by PE-backed Aspenleaf
Calgary-based oil and gas company Coral Hill Energy Ltd announced that it has received written notice from Aspenleaf Energy Ltd that the latter is terminating its previously announced plans to acquire Coral Hill. The deal, which had been approved by the boards of directors of both companies, would have given Coral Hill shareholders the option of a cash payment or shares in Aspenleaf. Coral Hill said it "does not believe Aspenleaf has valid grounds for the termination" and intends to pursue "all remedies available to it." Calgary's Aspenleaf is backed by Canadian private equity firm ARC Financial Corp, Ontario Teachers’ Pension Plan and other investors.
30 January 2015•2 mins read
