09:50 AM EST - Open Range Energy Corp : announced that it has entered into an arrangement agreement with Peyto Exploration & Development Corp., whereby Peyto has agreed to acquire all of the issued and outstanding common shares of Open Range. Pursuant to the terms of the Peyto Arrangement Agreement, holders of Open Range Shares will receive 0.0696 of a Peyto common share for each Open Range Share held. Based on the closing trading price of the Peyto Shares on the Toronto Stock Exchange on June 29, the Exchange Ratio implies an aggregate value of approximately $179.5 million for all of the issued and outstanding Open Range Shares, and a value of $1.34 per Open Range Share. Open Range Energy Corp.
shares T.ONR are trading up $0.26 at $1.28.
