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Pivotal Energy merging with Fairborne.
Two Calgary, Alberta-based energy producers said Monday they are merging in a friendly deal. Shares in Pivotal Energy Ltd. climbed C$0.74 (53 cents) following the announcement of the union with privately held Fairborne Energy Ltd., reaching C$2.40 on the Toronto Stock Exchange. Terms of the deal were not disclosed but Pivotal shareholders will receive 0.485 of a Fairborne common share for each of their shares, …
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