Tamarack Valley and Headwater Exploration have agreed to merge in an all-stock deal valued at C$10 billion ($7.25 billion) that will create the largest publicly traded oil producer focused on Alberta's Clearwater Formation. The transaction includes a dividend increase, updated growth targets, leadership changes and the spin-off of non-core assets into a new public company.
The merger creates the largest publicly traded oil producer focused on Alberta's Clearwater Formation.
Tamarack plans to increase its quarterly dividend by 20% to C$0.06 per share.
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