Oil sands company puts itself on the block
Opti Canada (TSX: T.OPC) shares rallied 8.95% to $2.06 in Wednesday trading. The company announced Tuesday after the close that it was “considering strategic alternatives for enhancing shareholder value” – the often-used shorthand when a company is putting itself up for sale or merger. In a press release, Opti said it does not believe its share price fully values the company.
The Calgary-based firm, which is a minority partner in Nexen’s (TSX: T.NXY) Long Lake project in Alberta’s oil sands, also said that it would accept offers for raising new capital or receiving better terms on its bank credit line.
Jeff Anheliger
Representing Asian investors looking to invest heavy
January 21st, 2010 at 5:29 pm