Luscar fires back in takeover feud

Article Abstract:

Luscar Coal Income Fund requested Alberta and Ontario securities regulators to kill the poison pill adopted by Manalta Coal Income Trust to oppose Luscar's C$550-million offer to purchase Manalta. Luscar extended the expiration of its bid by 10 days to Aug. 28, 1998. Manalta, in its effort to thwart the hostile takeover, was propelled to take out a loan of C$276 million to reduce by 75% the amount to be paid by holders of its installment receipts by Oct. 1, 1998. Luscar warned Manalta receipt holders that the new debt was imprudent of the target and that the repayment for the added loan could cut into future distributions.

Comment:

Requests Alberta & Ontario securities regulators to kill poison pill adopted by Manalta Coal Income Trust to oppose takeover bid

Coal, Coal Mining, Luscar Coal Income Fund

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Sudan bombing raises questions on Talisman deal

Article Abstract:

Talisman Energy Inc.'s friendly takeover offer for Arakis Energy Corp., that is valued at C$295 million, is being doubted. The acquisition of Arakis, where a 25% stake would have allowed exploitation of the African oil field project, was being questioned after a bombing incident occurred just 5 kms from the Khartoum, Sudan-office of Arakis. Senior Talisman executives issued a statement, which cited the firm's concerns and expression of surprise at the attack. The release said the firm is waiting for specific details before planning on any move.

Comment:

Its friendly takeover offer for Arakis Energy Corp., that is valued at C$295 million, is being doubted

Asset sales & divestitures, Support Activities for Oil and Gas Operations, Sudan, Oil & Gas Field Production Svcs, Talisman Energy Inc., Arakis Energy Corp.

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