11:00 AM EST - Precision Drilling Corporation : Has entered into an arrangement agreement with Trinidad Drilling Limited pursuant to which Precision has agreed to acquire all of the issued and outstanding common shares of Trinidad on the basis of 0.445 common shares of Precision for each outstanding Trinidad Share pursuant to a plan of arrangement. The aggregate Transaction value is approximately $1,028 million, including the assumption of approximately $477 million in Trinidad net debt. Upon completion of the Transaction, existing holders of Trinidad Shares will collectively own approximately 29% of Precision. Precision Drilling Corporation
shares T.PD are trading down $0.09 at $4.35.
