Friday, September 25, 2020
9:41 AM EST – Calfrac Well Services Ltd. : Says Wilks Brothers, LLC acknowledges the press release by Calfrac yesterday in which it nnounced that it hadamended the Management Transaction. What yesterday’s announcement makes crystal clear is that the Board of Calfrac has been forced to concede that the original Management Transaction was fundamentally flawed and undervalued its shareholders’ interests in the Company. In effect, the self-selected unsecured creditors and Calfrac insiders who proposed the Management Transaction were attempting to appropriate that value for themselves. Through Wilks’ efforts, and at considerable expense, that value has been pried from their grasp and grudgingly conceded to the long-suffering shareholders of Calfrac. This marks only the first step in ensuring that Calfrac’s shareholders receive fair value. Calfrac Well Services Ltd.
(T.CFW) shares were unchanged at 0.145.
Stocks in Play: Calfrac Well Services Ltd., Fri, 25 Sep 2020 09:45:02 EST