San Leon Energy Adds Realm Energy For $141M

Law360, New York (August 26, 2011, 2:45 PM EDT) -- San Leon Energy PLC reached a deal Friday to buy Canadian international shale gas explorer Realm Energy International Corp. in a CA$139 million ($141 million) cash-and-stock deal that expands the U.K. company's European shale gas exploration prospects.

The agreement puts Realm's 107 million shares at CA$1.30 each and represents a 46.1 percent premium over its current share price. Both companies' boards have approved the deal, which they expect to close in November.

Under the agreement, current Realm stockholders will receive either cash, 3.3 San Leon shares...
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