Sept 21 (Reuters) - Total Energy Services Inc TOT.TO :
* Intends to make offer to purchase outstanding Class A common shares of Strad Energy Services for $2.90/Strad share
* Total energy services inc. announces intention to make a takeover bid for
the outstanding class a common shares of strad energy services ltd.
* Total energy says "in this uncertain and challenging environment, co
believes the offer terms reflect fair value for the strad shares"
* Anticipates holders of strad shares will have option to receive $2.90 cash or $1.35 cash plus 0.10 of a common share of total
* Expects to fund non-share portion of consideration to be paid to strad shareholders with cash on hand and credit facilities
* Intends to mail a take-over bid circular to the registered holders of strad shares on or before october 9, 2015
* Currently owns 3.7 mln strad shares, representing about 9.95% of total number of issued, outstanding strad shares
* Total Energy determined to make offer at this time to, in part,
provide board of strad with additional time to consider terms
* Source text for Eikon ID:nMKWcw5dNa
* Further company coverage TOT.TO