The D. E. Shaw group announced today that D. E. Shaw Laminar Portfolios, L.L.C. has exercised, in cash, warrants to acquire 1,244,882 common shares of Synenco Energy Inc. (“Synenco”) in anticipation of the June 18, 2008 deadline for the take-over bid offer from Total E&P Canada Ltd. (“Total”).
The D. E. Shaw group chose to exercise its warrants in cash in order to preserve as much flexibility as possible while it reviews all available options in response to the transaction currently being proposed by Total.
Entities within the D. E. Shaw group own approximately 14%, in the aggregate, of the issued and outstanding common shares of Synenco.
About the D. E. Shaw Group
The D. E. Shaw group is a global investment and technology development firm with more than 1,400 employees; approximately $39 billion in aggregate investment capital as of June 1, 2008; and offices in North America, Europe, and Asia. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff.
Contacts:
Andy Merrill or Tripp Kyle, +1-212-303-7600
andy.merrill@finsbury.com
tripp.kyle@finsbury.com
