MART RESOURCES $0.25 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403- 270-1841; www.martresources.com; Shares outstanding: 356.6 million; Market cap: $89.2 million; No dividends paid) has been successfully taken over at $0.25 a share by a consortium.
Midwestern Oil and Gas Company Ltd., San Leon Energy plc and 1038221 B.C. Ltd. make up the group of buyers.
Apart from regulatory and shareholder approvals, the deal was contingent on the consortium arranging financing. The transaction ran into a number of delays, but was finally able to attract the funds it needed for the takeover.
That offer attracted enough shareholder votes to force all shares to be tendered. So, even if you didn’t tender your shares to the takeover offer, you’ll still receive the full $0.25 per share without paying brokerage commissions.
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