Pengrowth stock plunges 77.5% after board agrees to sell out to Cona Resources for 5 cents a share – Financial Post
Canadian oil and gas producer Pengrowth Energy Corp. plunged 77.5 per cent on Friday after agreeing to be acquired by privately held oil company Cona Resources in a deal valued at $740 million (US$562.18 million).
Cona Resources, which is a portfolio company…
