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Wednesday, September 22, 2010

Avenir To Buy Great Plains Exploration

Avenir Diversified has decided to buy Great Plains Exploration, a heated stock on the TSX Canadian exchange. Avenir agreed to pay C$84 million for the company, which includes debt and closing costs. The company is offering $0.088 of an Avenir unit or exchangeable shares for each Great Plains Exploration share. Great Plains is up over 16% after the announcement.