Savanna Energy Services Corp., Calgary (Toronto: SVY) and Western Lakota Energy Services Inc., Calgary, (Toronto: WLE) plan to merge into a combined North American oilfield services company with an enterprise value of $1.5 billion. Western Lakota shareholders will receive 0.64 Savanna share per Western Lakota share. Savanna shareholders will own approximately 51.5% and Western Lakota shareholders will own approximately 48.5% of the combined entity, which will operate under the name Savanna Energy Services Corp.
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