UPDATE: companies confirm, see end of story
Meanwhile, the official method of informing the market:
And the share price after Bloomberg ran its first headlines:
Never change, guys.
Update 12:35 pm Eastern Time, 11:35 in Mexico. ALFA makes it official! And someone on the Twitter points out that Pacific also posted a statement, though it’s not yet on SEDAR or on the company’s own home page.
Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) announces that it has entered into exclusive discussions in respect of an offer from ALFA, S.A.B. de C.V. (“ALFA”) and Harbour Energy Ltd. (“Harbour Energy”), whereby they would acquire all of the issued and outstanding common shares in the capital of the Company (“Common Shares”) not owned by ALFA for a price of C$6.50 per share, subject to completion of definitive documentation and final Board approvals. The Company’s Board has constituted a Special Committee comprised of independent directors, which has engaged an independent financial advisor to deliver a formal valuation in accordance with applicable Canadian securities laws.
Together, ALFA and Harbour Energy have completed technical, financial and legal due diligence. ALFA and Harbour Energy have agreed with the Company to work toward completion of definitive documentation expeditiously. The contemplated transaction would be subject to a number of conditions and there can be no assurance that any transaction will be completed.
ALFA currently holds 59,897,800 Common Shares, representing approximately 18.95% of the issued and outstanding Common Shares.
Pacific Rubiales, ALFA and Harbour Energy do not intend to provide further updates, except as required by applicable laws.
UPDATE2: And then there’s this. WTF, really?