Toronto
and
New
York-listed
Pengrowth
Energy
is
offering
0.86
shares
for
every
NAL
share
under
the
deal,
meaning
NAL
shareholders
will
own
26%
of
the
newly
combined
outfit.
The
deal
is
expected
to
close
at
the
end
of
May
after
shareholders
of
both
companies
vote
on
the
transaction.
Pengrowth
chief
executive
Derek
Evans
said
the
tie-up
would
enhance
the
company’s
cash
flow
base
and
augment
its
light
oil
drilling
inventory
by
adding
28,200
barrels
of
oil
equivalent
per
day
in
output.
He
said
the
larger
company
would
be
better
equipped
to
fund
key
projects
such
as
the
Lindbergh
steam-assisted
gravity…
