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Wilks Brothers raise Calfrac offer to up to 25 Canadian cents per share

Oct 5 (Reuters) - Billionaire oil investors Wilks Brothers LLC on Monday raised their hostile offer for Canadian oilfield services provider Calfrac Well Services Ltd to between C$0.18 per share and C$0.25 per share.

Wilks Brothers had earlier offered a fixed $0.18 per share to Calfrac shareholders, rivaling a recapitalization bid from Calfrac’s management aimed at reducing the company’s massive debt.

Calfrac management had sweetened its own bid and rejected the Wilks offer on September 24. (Reporting by Shariq Khan in Bengaluru; Editing by Ramakrishnan M.)

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