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Savanna Energy says approached by potential suitors
December 15, 2016 / 1:05 PM / a year ago

Savanna Energy says approached by potential suitors

Dec 15 (Reuters) - Savanna Energy Services Corp said on Thursday it had received interest from other bidders after Total Energy Services Inc made an offer in November to buy the oilfield services provider.

The company said it intends to conduct a formal process early next year to explore strategic alternatives.

Savanna Energy had a market value of C$190.41 million ($142.95 million) as of the stock’s Wednesday close. ($1 = 1.3320 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Saumyadeb Chakrabarty)

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