Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

PHX Energy Services Corporation Enters Into Agreement To Acquire RMS Systems Inc

Wednesday, 25 Sep 2013 09:00pm EDT 

PHX Energy Services Corporation and RMS Systems Inc jointly announced that they have entered into an Arrangement Agreement whereby, subject to certain conditions, PHX will acquire all of the issued and outstanding shares (RMS Shares) of RMS not already owned by PHX pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the Arrangement). Under the terms of the Arrangement, all shareholders of RMS, other than PHX, will receive 0.037209 of a common share of PHX ("PHX Shares") for each RMS Share held based upon a value ascribed to each of the RMS Shares and PHX Shares of $0.40 and $10.75. PHX currently owns 31,501,000 RMS Shares, representing approximately 39.85% of the currently issued and outstanding RMS Shares. Following completion of the Arrangement, RMS will become a wholly owned subsidiary of Phoenix Technology Services Inc., a wholly owned subsidiary of PHX. PHX intends to retain all employees of RMS, including key management personnel, in an effort to continue the momentum of product development and market growth. The Board of Directors of RMS formed a committee of independent directors to, among other things, review and evaluate the terms of the proposal from PHX, to retain financial advisors and obtain and supervise the preparation of a fairness opinion, to make a recommendation to the RMS Board in respect of the proposal and to negotiate the terms and conditions of the Arrangement Agreement and related matters. 

Company Quote

0.45 +6.08%
19 Dec 2014