Transaction represents 17% premium to Trinidad price, 25% premium to hostile offer
The recent surge in oil and gas M&A activity extends to oilfield service, as Precision Drilling Corporation (ticker: PD) and Trinidad Drilling (ticker: TDG) announced a merger today.

Precision will acquire Trinidad in an all-stock deal, offering 0.445 of a Precision share for each share of Trinidad. Based on yesterday’s closing prices, this equates to $1.98 per Trinidad share, or $2.11 per share based on Precision’s 30-day average share price. This repres...

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