Allis Chalmers Energy merger news
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Category: Allis Chalmers
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URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=25066
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Topic: Allis Chalmers Energy merger news
Posted By: DougG
Subject: Allis Chalmers Energy merger news
Date Posted: 01 Feb 2011 at 7:56pm
Saw this awhile ago , looks like ACE will be a subsidiary of Seawell; but for how long ? Stavanger, Norway, Jan 25, 2011 (Thomson Reuters ONE via COMTEX) -- Allis-Chalmers Energy Announces Record Date and Meeting Date for Special Meeting of Stockholders in Connection with Merger Hamilton, Bermuda (January 25, 2011) Reference is made to news release of August 13, 2010 where Seawell Limited (OSE: SEAW) and Allis-Chalmers Energy Inc. (NYSE: ALY) announced that their Boards of Directors had unanimously approved a definitive merger agreement providing for the acquisition of Allis-Chalmers by Seawell Allis-Chalmers today announced that it has established a record date and a meeting date for the special meeting of its stockholders to consider and vote upon, among other things, the proposal to adopt the previously announced Agreement and Plan of Merger, dated as of August 12, 2010, among Allis-Chalmers, Seawell and Wellco Sub Company, pursuant to which Allis-Chalmers would become a subsidiary of Seawell.
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Posted By: EPALLIS
Date Posted: 02 Feb 2011 at 11:37am
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Seawells offer was $4.50 a share. ALY currently trades over $7.50. Either Seawell ups the anty considerably or it won't happen. My 2 cents. I'm betting A-C stays independentl. Going orange is going great!
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Posted By: DougG
Date Posted: 02 Feb 2011 at 2:40pm
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I hope they will stay ACE ; BUT , Yahoo finance fellas think ACE stock price is riding high on the Seawell merger talk ; , and its already sealed just have to finish the formalities ??? Over the years ALLIS has been thru some rough rides hasnt it ! Dam
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