Total Energy Services Inc. says it has acquired more than 80 per cent of Savanna Energy Services Corp. stock in its hostile takeover bid – but is once again extending its offer to try to gather all outstanding shares.
Total Energy had already extended its offer to investors to win full control of the drilling firm. On Friday, it said the offer is now extended to April 27, and said it will further initiate a subsequent acquisition transaction or compulsory acquisition, if necessary.
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