Polish Refiner PKN To Buy Canada's TriOil In $233M Deal

Law360, New York (September 16, 2013, 2:47 PM EDT) -- PKN Orlen SA, Poland's largest refiner, has agreed to acquire Canadian upstream energy company TriOil Resources Ltd. in a deal worth 240.1 million Canadian dollars ($233.2 million), the companies announced Monday.

The Polish firm will pay CA$2.85 per share of TriOil in cash. The offer price is a 31 percent premium to TriOil's 10-day weighted average as of July 2, the day before the Canadian firm announced it was in talks to sell itself.

The deal requires approval from at least two-thirds of votes cast at...
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