The transaction approved by Peak shareholders on 25 May included the 3.15% of Peak’s shares previously acquired by Clean Harbors consisting of a combination of cash and assumed debt.
The company’s shareholders are receiving CAD $0.95 ($0.97) in cash for each Peak share, and holders of Peak stock options received a total of C$1.6m ($1.63).
In addition, as part of the transaction, Clean Harbors cleared Peak’s net debt of approximately C$36m ($36.8).
Clean Harbors chairman and CEO Alan S. McKim said we are excited about the cross-selling opportunities created by this acquisition, particularly the oil and gas plays in the US and will expand our presence in oil and natural gas drilling and production support.
Headquartered in Calgary, Canada Peak is a diversified energy services organization that provides drilling and production services.
