ACQUISITION / Dominion Energy completes Offer for Archer Resources
RICHMOND, Va., April 21 /CNW/ - Dominion Energy today announced that its
offer to acquire Archer Resources Ltd. had been successfully completed.
Approximately 21,561,976 Archer shares were tendered to the offer constituting
approximately 96.09% of the Archer shares outstanding on a diluted basis. As
previously disclosed, Dominion Energy intends to acquire the remaining Archer
shares under statutory compulsory acquisition procedures.
Dominion Energy, the natural gas and independent power subsidiary of
Dominion Resources, Inc. (NYSE: D), announced its plans to purchase Archer
Resources, a publicly-traded natural gas exploration and production company
based in Calgary, on March 11, 1998.
Dominion Energy's offer was made through Dominion Acquisition Inc., a
wholly-owned subsidiary. |
