Oct 8 (Reuters) - CIC Energy Corp:
* Enters into exclusive negotiations in respect of the acquisition of the
company
* Non-binding price from multi-billion dollar conglomerate for C$7.75 per share
payable at closing
* Agreed to enter exclusive negotiations with a conglomerate to acquire at
least 51%, and up to 100%, of co's shares
* Says granted to the potential purchaser exclusivity to permit the completion
of due diligence
* Engaged Deutsche Bank securities as its financial advisor to the special
committee
* Terms do not require the fulfillment of any project milestones
* Says special committee will be reviewing the merits of this proposal
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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* Enters into exclusive negotiations in respect of the acquisition of the
company
* Non-binding price from multi-billion dollar conglomerate for C$7.75 per share
payable at closing
* Agreed to enter exclusive negotiations with a conglomerate to acquire at
least 51%, and up to 100%, of co's shares
* Says granted to the potential purchaser exclusivity to permit the completion
of due diligence
* Engaged Deutsche Bank securities as its financial advisor to the special
committee
* Terms do not require the fulfillment of any project milestones
* Says special committee will be reviewing the merits of this proposal
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.