Why Is TransGlobe Energy (TGA) Stock Up 2% Today? Source: Shutterstock.com TransGlobe Energy (NASDAQ: TGA ) stock is gaining on Thursday as investors react to news of a merger agreement with Vaalco Energy (NYSE: EGY ). The details of the deal include Vaalco Energy acquiring all outstanding shares of TGA stock. This will have it using its own stock to fuel the purchase of TransGlobe Energy shares in a deal valued at $307 million. The deal will result in shareholders of TGA stock receiving 0.6727 shares of EGY stock for each share that they hold. This represents a 24.9% premium to the 30-day volume weighted average share prices for TGA as of July 13. When the deal closes, TGA shareholders will own 45.5% of the combined company. The remaining 54.5% will be owned by current holders of EGY stock. Also, the two companies expect better liquidity and visibility for shareholders as a result of the deal. 7 Cheap Semiconductor Stocks to Buy Now Both companies’ Board of Directors have approved the deal. Now it needs approval from regulators and shareholders to move forward.