Energy infrastructure firm Enerflex signs all stock deal to buy U.S. company Exterran
Enerflex Ltd. has signed an all-stock deal to buy U.S. company Exterran Corp. in an agreement that values the company at about US$735 million.
Under the transaction, Enerflex will issue 1.021 of its shares for each Exterran share.
Enerflex shares were down C$1.53 at C$6.37 in trading on the Toronto Stock Exchange after the agreement was announced.
The deal, which is expected to close in the second or third quarter of this year, requires approval by both Exterran and Enerflex shareholders as well as regulatory and other approvals.
Upon closing of the deal, Enerflex shareholders will own 72.5 per cent of the combined company, while Exterran shareholders will hold 27.5 per cent.
Enerflex is a supplier of natural gas compression, oil and gas processing, refrigeration systems, and electric power generation equipment. The company says the deal will strengthen its ability to serve customers in key natural gas, water, and energy transition markets.
This report by The Canadian Press was first published Jan. 24, 2022.
CTVNews.ca Top Stories
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.