Calgarybased Gibsons Energy says it rejected foreign takeover offer

Calgary-based Gibsons Energy says it rejected foreign takeover offer by The Canadian Press Posted Aug 11, 2016 11:49 am MDT Last Updated Aug 11, 2016 at 12:43 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email CALGARY – Gibsons Energy says it has rejected a takeover offer from a foreign entity it declined to identify.The Calgary-based oil and gas company said in a news release Thursday that it received a non-binding, conditional proposal for discussion from an unidentifiable foreign entity that insisted on anonymity.Gibsons (TSX:GEI) said it seriously considered the proposal but its board unanimously voted against it, concluding it did not represent adequate value to shareholders and was not in the company’s best interest.The Financial Post reported Wednesday that Gibsons had received a $2.8-billion offer from a Singapore-based private equity firm.Gibsons said it continues to look to sell the industrial propane segment of its business, but it otherwise is not seeking out expressions of interest for its operations. read more