Pembina Pipeline To Acquire Provident Energy For $3.1B

Pembina Pipeline Corp PBNPF agreed to acquire Provident Energy Ltd PVX for around C$3.2 billion (US$3.1 billion) in stock. As per the deal, Provident shareholders will receive 0.425 of a Pembina share for each share held, representing a premium of 24.7% over Provident's closing price of C$9.51. PBNPF shares closed at $27.18 on Friday, while PVX shares closed at $9.31 on Friday.