Waterous Energy Fund Agrees To Acquire 29,988,854 Shares Of Greenfire Resources Ltd. For Cash Consideration Of CAD$10.932 Per Purchased Share, Representing An Aggregate Purchase Price Of ~CAD$327,778,174
Portfolio Pulse from Benzinga Newsdesk
Waterous Energy Fund has agreed to acquire 29,988,854 shares of Greenfire Resources Ltd. for CAD$10.932 per share, totaling approximately CAD$327.8 million. This acquisition represents 43.3% of Greenfire's outstanding shares. The transaction is subject to customary closing conditions and regulatory approvals.
September 16, 2024 | 4:15 pm
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POSITIVE IMPACT
Waterous Energy Fund is set to acquire 43.3% of Greenfire Resources Ltd., significantly increasing its stake in the company. This move could influence Greenfire's strategic direction and market perception.
The acquisition of a significant 43.3% stake by Waterous Energy Fund suggests a strong vote of confidence in Greenfire Resources Ltd. This could lead to positive market sentiment and potential strategic changes, boosting the stock price in the short term. However, the transaction is still subject to regulatory approvals, which introduces some uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100