Grey Wolf sets meeting date for Precision Drilling merger vote

By Lisa Kerner

Charlotte, N.C., Oct. 27 - Grey Wolf, Inc. announced it will hold a special meeting of shareholders to vote on the company's proposed merger with and into a wholly owned subsidiary of Precision Drilling Trust at 10 a.m. ET on Dec. 9.

Record date for the meeting is Oct. 27, according to a form F-4 filed with the Securities and Exchange Commission.

Grey Wolf's board of directors unanimously recommends its shareholders vote in favor of the transaction.

In August, Precision Drilling, a Calgary, Alta., oil and gas drilling and exploration company, agreed to acquire Grey Wolf in a deal that will give Grey Wolf shareholders $5 per share in cash plus 0.1883 newly issued Precision Drilling trust units.

Houston-based Grey Wolf is the fourth-largest provider of contract land drilling services in the United States.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.