Moody's places Grey Wolf under review for upgrade (AP)
Moody's Investors Service has placed Houston gas driller Grey Wolf Inc. under review for a possible upgrade after Monday's announcement that it is being bought by Canada's Precision Drilling Trust.

Precision Drilling Snaps Up Grey Wolf: A Smart Acquisition and Good Income Too (at Seeking Alpha)

Grey Wolf Shareholders Deserve Better Buyout Offer (at Seeking Alpha)

Business Highlights (AP)
Stocks sank in light trading Monday as worries about American International Group Inc. touched off broader concerns that the deterioration of the credit markets will bring more big losses for financial companies.

Precision Drilling falls on Grey Wolf buy (AP)
Shares of Canada's Precision Drilling Trust dropped Monday after it announced it would buy Houston-based gas driller Grey Wolf Inc. in a cash and stock deal worth more than $2 billion.

Precision finally gets Grey Wolf in $2B gas deal (AP)
Canada's Precision Drilling will buy Grey Wolf in a cash and stock deal worth more than $2 billion, the companies said Monday, apparently ending an extended fight for control of the Houston gas driller.

Grey Wolf agrees to Precision Drilling's sweetened bid (at MarketWatch)
Canadian energy-services provider Precision Drilling Trust plans to buy Grey Wolf under revised terms calling for payment of an estimated $1.12 billion in cash and 42 million shares of stock.