Wilks Brothers formalizes Calfrac takeover offer ahead of vote on restructuring plan

Texas-based Wilks Brothers LLC says it is making formal the $26.1-million takeover bid for Calfrac Well Services Ltd. it proposed last week, while continuing to urge shareholders to reject a management reorganization plan. The company, which owns U.S. oilfield services rival ProFrac Services, says it will pay 18 cents per share in an offer filed with Canadian securities regulators that will remain open until Dec. 23. The battle for Calfrac has pitched debtholders against shareholders, with the c