Calgary's Bonnett's Energy takes next step to acquisition by Mill City
Calgary-based Bonnett's Energy Corp (TSX: BT) a provider of services to downhole clients in the Western Canada Sedimentary Basin, is seeking shareholder approval of a take-private acquisition proposal, announced in September, by an investor group led by U.S. private equity firm Mill City Capital. The investor group includes members of the company's management team. The transaction, which has been recommended by Bonnett's board of directors, values the company at approximately $117 million. Shareholders will consider the Mill City proposal at a special meeting to be held on October 31, 2013.
7 October 2013•5 mins read
