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March 22 (Reuters) - Canadian oilfield services provider Trican Well Service Ltd said it would buy smaller rival Canyon Services Group Inc in a deal valued at about C$637 million ($475.5 million), including debt.
Canyon shareholders will receive 1.7 shares of Trican for each share they own.
That translates to an offer price of C$6.63 per Canyon share, representing a 32 percent premium to the stock's Tuesday close.
$1 = 1.3397 Canadian dollars Reporting by Vishaka George in Bengaluru; Editing by Sai Sachin Ravikumar