Prior to the open on Tuesday, Heckmann (HEK) announced a merger agreement for Power Fuels owned by Badlands Energy, LLC. The deal creates a leading environmental services company focused on energy and industrial end-markets.
The company is an environmental services provider dedicated to the movement, treatment and disposal of water generated by energy companies involved in the discovery and production of oil, natural gas liquids and natural gas.
The stock surged nearly 40% on Tuesday as the deal creates a potential game changer for the handling of fracking fluids. The deal is also highly accretive causing investors to take notice of a stock that had been crushed this year.
Read the full article at Seeking Alpha.
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