ENMAX Acquisition Corp. ("EAC"), an indirect wholly-owned subsidiary of ENMAX Corporation, announced that it has today acquired 341,631 common shares of Cordero Energy Inc (TSX: COR) (“Cordero”).
The highest price paid per share purchased today was C$4.75. The average price paid per share purchased during the course of EAC's acquisition of Cordero to date is C$4.42.
The aggregate number of Cordero shares purchased by EAC, including purchases made today, is 1,851,331. As a result of today's transaction, EAC now owns a total of 1,851,331 common shares of Cordero, or 5.00% of the common shares of Cordero.
On February 19, 2008, ENMAX announced that it would make an all cash offer to acquire all of the issued and outstanding common shares of Cordero on a fully diluted basis at a price of C$4.35 per share by way of a take-over bid. The formal documents in connection with the offer were mailed to security holders of Cordero on March 10, 2008. Earlier today, EAC announced an amendment to its offer to increase the consideration to C$4.75 cash per common share and extend the offer to 4:30 p.m. (Calgary time) on May 28, 2008.
ENMAX Corporation and its predecessors have provided Albertans with safe, reliable electricity for more than 100 years. Through its subsidiaries, ENMAX provides electricity, natural gas, renewable energy and value-added services to more than 500,000 residential, commercial and institutional customers in Alberta. ENMAX Energy Corporation contracts low-cost reliable electricity from the Keephills and Battle River facilities and meets peak demand through a long term agreement for the Calgary Energy Centre. ENMAX, through a subsidiary, is one of Alberta’s largest investors in renewable energy with 100 per cent ownership of the Taber Wind Farm and 50 per cent ownership of the McBride Lake Wind Farm. For more information, visit our website at enmax.com.
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