Whitecap Resources buying lightoil producer Beaumont Energy for 5875M

CALGARY — Whitecap Resources Inc. has signed a deal to acquire privately held Beaumont Energy Inc. in a stock-and-cash deal valued at $587.5-million including debt.Under the agreement, Beaumont shareholders can receive $5.62 in cash or 0.40 of a Whitecap common share for each Beaumont share they hold. The cash available under the deal is capped at $103.4 million.Whitecap will also assume about $70.5 million in Beaumont debt.Beaumont has operations primarily in the Kerrobert area of west-central Saskatchewan, located nearby Whitecap’s existing operations.Whitecap said the deal will be partially funded with a $110-million bought deal equity financing.The company has signed a deal with a syndicate of underwriters to issue 8.149 million subscription receipts at a price of $13.50 each.

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