09:45 AM EST - Berens Energy Ltd. : announced that it has entered into a definitive amalgamation agreement with PetroBakken Energy Ltd. and a wholly-owned subsidiary of PetroBakken by which PetroBakken will indirectly acquire all of the issued and outstanding common shares of Berens for a cash consideration of $2.70 per Berens Share. The transaction, including indebtedness of about $65 million, is valued at $336 million. The transaction is expected to close prior to the end of February 2010. The offer represents a 34% premium to the weighted average closing price of Berens Shares for the 20 trading days ended December 31, 2009 and a 33% premium to the December 31, 2009 closing price of $2.03 per Berens Share. Berens Energy Ltd.
shares T.BEN are trading up $0.65 at $2.68.
