Western Energy Services Corp. (“Western”) acquired all of the outstanding securities of IROC Energy Services Corp. (“IROC”) by way of a plan of arrangement under the Canada Business Corporations Act (the “arrangement”).
Pursuant to the arrangement, Western acquired all of the outstanding shares of IROC in exchange for a combination of cash in the amount of $62.9 million, and 12,352,832 Western common shares.
The total transaction value was approximately $184.8 million, including the assumption of approximately $37.9 million in debt, transaction costs and the cancellation of stock options and restricted share units.
Borden Ladner Gervais LLP represented Western with a team that included Brian Roberts, Ross Freeman, Jonathan Doll, Scott Cedergren and Nav Dhaliwal.
Norton Rose Fulbright Canada LLP represented IROC with a team that included Mark Eade, Dion Legge, Rashi Sengar and Jason Metcalf.
Pursuant to the arrangement, Western acquired all of the outstanding shares of IROC in exchange for a combination of cash in the amount of $62.9 million, and 12,352,832 Western common shares.
The total transaction value was approximately $184.8 million, including the assumption of approximately $37.9 million in debt, transaction costs and the cancellation of stock options and restricted share units.
Borden Ladner Gervais LLP represented Western with a team that included Brian Roberts, Ross Freeman, Jonathan Doll, Scott Cedergren and Nav Dhaliwal.
Norton Rose Fulbright Canada LLP represented IROC with a team that included Mark Eade, Dion Legge, Rashi Sengar and Jason Metcalf.
Lawyer(s)
Brian E. Roberts
Dion J. Legge
Nav Dhaliwal
Jonathan Doll
Jason Metcalf
Rashi Sengar
Ross D. Freeman
Mark G. Eade
Scott Cedergren