Nice takeover, no debt

Article Excerpt

TRILOGY ENERGY (Toronto symbol TET; TSINetwork Rating: Speculative) has now been taken over by PARAMOUNT RESOURCES $24.64 (Toronto symbol POU; TSINetwork Rating: Speculative) (403-290-3600; www. paramountres.com; Shares outstanding: 134.7 million; Market cap: $3.3 billion; No dividends paid). Under the deal, Trilogy shareholders got 0.267 of a Paramount share for each Trilogy share they owned. Over the last two years, Paramount has sold assets worth more than $2.5 billion and paid off all of its debt. The company has now expanded, through both the Trilogy takeover and its recent purchase of Apache Canada Ltd. for $459.5 million. Apache Canada was owned by Apache Corp. (symbol APA on New York, and a recommendation of our Wall Street Stock Forecaster newsletter). We now see Paramount as a buy. buy…