Vero To Go Private In $150M Deal With Canadian Energy Co.

Law360, New York (September 13, 2012, 1:58 PM EDT) -- Canadian private fund-backed light oil production company TORC Oil & Gas Ltd. will acquire publicly held Canadian energy firm Vero Energy Inc. in a CA$147 million (US$150.6 million) take-private deal, TORC and Vero announced Thursday.

The deal calls for TORC, a privately held energy company founded in 2010, to enter into a CA$100 million private placement deal with a syndicate of underwriters led by Macquarie Capital Markets Ltd. TORC and Vero will then merge to form a new company that will operate under the TORC name,...
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