IPC To Acquire Canada’s BlackPearl In Strategic Combination

International Petroleum Corp. (IPC) agreed to acquire Canadian oil and gas producer BlackPearl Resources Inc. in a strategic business combination, the companies said in a joint release on Oct. 10. Under the merger agreement, IPC will acquire all shares of BlackPearl at a price of C$1.85 per share, which represents a premium of 42% to the closing price of BlackPearl shares on Oct. 9, according to the release. Overall, the price tag for the deal is expected to total about C$622.5 million based on the roughly 336.5 million shares of BlackPearl outstanding as of a June company presentation.

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