Wilks Brothers LLC says it will make a takeover offer for Calfrac Well Services Ltd. if shareholders reject the company’s recapitalization plan.
The Texas-based competitor, which already owns a roughly 20 per cent stake in Calfrac, says it will pay 18 cents per share. Calfrac shares closed at 15 cents on the Toronto Stock Exchange on Tuesday.
Get daily National news
Calfrac and Wilks Brothers have been fighting over its restructuring plan that will see its debt holders swap unsecured notes for shares in the company.
- StubHub stocks tumble as lawsuits pile up over unissued FIFA World Cup tickets
- ‘Like a dream’: Saskatoon’s Jordan Carroll looks ahead after double Commonwealth win
- Hamilton man wanted in child sexual assault case arrested in California after decades
- Winnipeg woman says little has changed since 26-hour ER wait in 2025
-
![]()
U.S. oil company establishes operations on Greenland without consent -
![]()
Doctors show CT scans of serious injuries as a result of e-scooter use -
![]()
US Ambassador Pete Hoekstra on Trump’s latest threats over wildfire smoke -
![]()
CSIS report warns Canada drawing closer ties with countries that remain biggest threats
Calfrac says its special committee and board will consider and evaluate the Wilks Brothers offer if and when it is received.
The company’s reorganization under the Canada Business Corporations Act must be supported by two-thirds of Calfrac’s debt holders and shareholders to proceed. Votes are to be held Sept. 17.
Wilks Brothers has vowed to vote its block of Calfrac’s shares against the plan.
Comments
Want to discuss? Please read our Commenting Policy first.