Second Wave Petroleum Mulls Brookfield Take-Private Bid

Second Wave Petroleum Inc., a public Calgary-based producer of crude oil and natural gas in Western Canada, has received a non-binding proposal from controlling investor Brookfield Bridge Lending Fund to be taken private. The Brookfield fund has offered shareholders 30 cents per share. The company has also agreed with Brookfield to issue $17.5 million in secured convertible debentures to meet immediate capital requirements. A special committee of the company's independent directors will consider the privatization bid.

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