Susquehanna Downgrades Civeo (CVEO) to Neutral

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Go back to Susquehanna Downgrades Civeo (CVEO) to Neutral

Civeo (CVEO) Will Not Convert to REIT

September 29, 2014 7:32 AM EDT

Civeo Corporation (NYSE: CVEO) today announced that its board of directors has completed its assessment of structural alternatives for the company and concluded that continuing as a corporation (C-corp) and redomiciling the company to Canada is in the best interests of shareholders and best positions Civeo for sustainable shareholder value creation. The board considered, among other things, a potential conversion to a real estate investment trust (REIT).

In reaching the determination, Civeo conducted a comprehensive review assisted by a team of financial, accounting, tax and legal advisors, including Green Street Advisors, Lazard, Ernst &... More