Caracal drops plan to acquire TransGlobe Energy following Glencore - TopicsExpress

Caracal drops plan to acquire TransGlobe Energy following Glencore takeover bid Caracal Energy Inc. (LSE:CRCL) has terminated plans to merge with a Calgary company and reached a friendly deal to be acquired by Glencore Xstrata PLC. (LSE:GLEN), one of the worlds largest commodities companies. Caracal says it has paid a US$9.25-million termination fee to TransGlobe Energy Corp. (TSX:TGL) under their March 15 agreement, which had envisioned creating in independent company focused on Africa. Read more: apps2.tmxmoney/news/cpnews/article?locale=EN&newsid=14TB03

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