Key Energy Services, Inc. (ticker: KEG) has proposed a combination with Basic Energy Services, Inc. (ticker: BAS) in an all-stock merger.

On September 20, 2018 and again on September 23, 2018, Key sent letters to management and the board of directors of Basic outlining its merger proposal and its strong desire to negotiate a transaction. Copies of the letters are included below.

Key believes that the proposed combination is attractive strategically and financially for both companies given the highly complementary nature of their respectiv...


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