Precision Drilling Penned An Agreement To Acquire CWC Energy Services For Approximately C$141 Million
Portfolio Pulse from Benzinga Newsdesk
Precision Drilling Corporation (NYSE:PDS) has announced an agreement to acquire CWC Energy Services Corp. for approximately $141 million. The deal includes 947,909 Precision shares valued at $88 million, $14 million in cash, and the assumption of CWC's outstanding debt.
September 07, 2023 | 10:03 am
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Precision Drilling is acquiring CWC Energy Services, which could potentially expand its business and increase its market share.
Acquisitions often lead to an increase in market share and potential growth in revenues. However, the impact will depend on how well the integration process goes and whether the acquired company's operations align with Precision Drilling's strategy.
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