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Paramount Energy buys Profound Energy Add to ...

Paramount Energy Trust PMT.UN has agreed to acquire Profound Energy Inc. PFX in a friendly cash-and-stock deal valued at $112.9-million - the latest in a series of takeovers amongst junior oil and gas firms hit by the credit crunch. The bid announced yesterday gives Profound shareholders a choice between $1.34 per share in cash, 0.394 of a trust unit for each share, or a combination of cash and stock. On the TSX, PMT.UN fell 9¢ to $3.10; PFX rose 54¢, or 83 per cent, to $1.19.

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