Investors > News Releases > News Releases > News Releases > News Releases Savanna Board Unanimously Recommends Rejection of Total Offer. Total Offer Significantly Undervalues Savanna
« Back

Savanna Board Unanimously Recommends Rejection of Total Offer. Total Offer Significantly Undervalues Savanna

Dec, 23 2016

Calgary December 23, 2016-The Board of Directors of Savanna Energy Services Corp. (“Savanna” or the “Company”), on the recommendation of the Special Committee, has unanimously determined that the offer from Total Energy Services Inc. (“Total”) to purchase all of the common shares of Savanna on the basis of 0.13 common shares of Total for each common share of Savanna significantly undervalues the common shares of Savanna, is not in the best interests of Savanna or its shareholders and that shareholders should reject the offer.

 

Click here to view PDF.