COMPETITION WATCH: Mullen to acquire Pe Ben Oilfield Services

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ALDERSYDE, Alta. – Mullen Group has announced it’s planning to make an offer to acquire Pe Ben Oilfield Services.

The company already holds approximately 10 per cent of Pe Ben’s shares. It’s now looking to complete the acquisition and will submit an offer next week, Mullen Group officials announced.

“The trust conversion process we undertook during the first half of 2005 caused us to closely examine all of our operating and non-operating assets, including our approximate 10 per cent share position in Pe Ben,” said Mullen president and co-CEO, Stephen Lockwood. “With the trust conversion now behind us, we believe the time is right to add Pe Ben to the Mullen Group.”

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