03:44 PM EST - Delphi Energy Corp. : said it entered into an acquisition agreement pursuant to which Delphi has agreed to make an offer to acquire all of the outstanding common shares of Fairmount on the basis of 0.3571 of a common share of Delphi for each common share of Fairmount. The total consideration paid by Delphi for Fairmount is about $14.5 million, including the assumption of about $7.3 million of net debt and transaction costs of about $1.4 million. The offer will be made pursuant to a take-over bid and will be conditional on not less than 66 2/3% of the outstanding Fairmount common shares being tendered to the offer and will be subject to other customary conditions, the company said. The take-over bid circular is expected to be mailed to Fairmount shareholders on or about August 28, 2009 and will expire 35 days thereafter. Delphi Energy Corp.
shares T.DEE are trading up $0.09 at $1.09.
