03:35 PM EST - C&C Energia Ltd. : and Pacific Rubiales Energy Corp. announced they have entered into an arrangement agreement whereby Pacific Rubiales will acquire all of the common shares of C&C Energia. Pursuant to the Arrangement Agreement, on closing of the acquisition each common share of C&C Energia will be exchanged for 0.3528 common shares of Pacific Rubiales and one common share of a new exploration company. The offer values C&C Energia at approximately $7.81 per share, representing a premium of approximately 21% to the 20-day volume-weighted price on the Toronto Stock Exchange of C&C Energia as at November 16, 2012. In addition, C&C Energia's management estimates Newco's value to be approximately $2.00 per share, representing a combined value of approximately $9.81 and a premium of approximately 52% over the same period. C&C Energia Ltd.
shares T.CZE are trading up $1.38 at $8.88.
