With the deadline for a potential merger between Obsidian Energy and Bonterra Energy Corp. just under two weeks away, Obsidian has made a final plea to get Bonterra shareholders on board.
Obsidian Energy has been in talks with Bonterra for the purchase of all of the issued and outstanding common shares of Bonterra since at least January 2019. Bonterra’s chairman and CEO previously expressed dissatisfaction with the proposal, stating the deal was skewed in favor of Obsidian, and the merger was delayed.
In September 2020, Obsidian formally launched an offer to purchase all of the issued and outstanding common shares of Bonterra. The offer was open for acceptance until Jan. 4, 2021, before it was extended to Jan. 25, 2021.
In what could be called a last-ditch effort, Obsidian has now presen
