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Oil Daily quotes Sarah Gingrich in an article about a group of debtholders rejecting a low-ball bid from a Singapore-based investment group

Fasken
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“Twin Butte Investors Reject Low Takeover Bid” by James Irwin, Oil Daily

Oil Daily quotes Calgary lawyer Sarah Gingrich in an article about a group of debtholders rejecting a low-ball bid from a Singapore-based investment group.

Sarah Gingrich, a Calgary-based partner with Fasken Martineau, said it was no great surprise why the shareholders supported the deal and the debt holders did not.

“Under the terms of the offer by Reignwood, shareholders would receive approximately twice as much consideration from Reignwood -- by voting against the offer, the debtholders took the risk that an auction would yield them a better deal,” said Gingrich.

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