Brief: Forbes Energy Services Announces Combination Of Forbes Energy Services With Us Onshore Oilfield Services Business Of Superior Energy

Forbes Energy Services

18/12/2019 14:29

Dec 18 (Reuters) - Forbes Energy Services Ltd  FLSS.PK :
    * FORBES ENERGY SERVICES ANNOUNCES COMBINATION OF FORBES
ENERGY
SERVICES WITH US ONSHORE OILFIELD SERVICES BUSINESS OF SUPERIOR
ENERGY
    * FORBES ENERGY SERVICES- SUPERIOR ENERGY HAS AGREED THAT
NEWCO
WILL LIST ON NASDAQ
    * FORBES ENERGY SERVICES LTD - CO'S COMMON STOCK HOLDERS
WILL
RECEIVE 50.1% OF VOTING CLASS A COMMON STOCK OF COMBINED CO
    * FORBES ENERGY SERVICES LTD - COMBINED CO EXPECTS TO
GENERATE
ANNUALIZED RUN-RATE COST SYNERGIES OF ABOUT $23 MILLION WITHIN A
YEAR AFTER CLOSING TRANSACTION
    * FORBES ENERGY SERVICES LTD - TRANSACTION HAS BEEN
UNANIMOUSLY
APPROVED BY A SPECIAL COMMITTEE OF CO'S DIRECTORS & BY BOARDS OF
CO & SUPERIOR ENERGY
    * FORBES ENERGY SERVICES LTD - NEWCO'S CLASS A STOCK WILL
INITIALLY TRADE IN OVER-THE-COUNTER MARKET

Source text for Eikon:  ID:nPn6Wj98Sa 
Further company coverage:  FLSS.PK 

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