This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Fairmount Energy suitor Delphi closes takeover bid 2009-10-20 10:27 ET - News Release Mr. David Reid reports
DELPHI OWNS 79.0% OF FAIRMOUNT ENERGY INC. AND CLOSES TAKE-OVER BID
Fairmount Energy Inc. has been informed that Delphi Energy Corp. has acquired an additional 544,730 common shares of Fairmount under Delphi's previously announced offer to acquire all of the issued and outstanding common shares of Fairmount. Delphi will now own 12,915,916 Fairmount common shares, representing approximately 79.0 per cent of Fairmount's issued and outstanding common shares. Fairmount also intends to cause the Fairmount common shares to be delisted from the TSX Venture Exchange as soon as practicable and to apply to the securities regulatory authorities for Fairmount to cease to be a reporting issuer. Holders of Fairmount common shares are cautioned that the delisting of the Fairmount common shares and/or the subsequent acquisition transaction may result in Canadian income tax consequences that are materially different from those that arise on the disposition of shares under the offer. (See "Certain Canadian Federal Income Tax Considerations" under the takeover bid circular.) Holders should consult their own tax advisers with respect to the potential income tax consequences to them of not disposing of their Fairmount common shares pursuant to the offer. The remainder is available to Stockwatch subscribers.
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