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Canada-based Akita Drilling is acquiring its rival Xtreme Drilling Corp. in a major C$209-million stock-cum-cash deal. The merged companies, which will operate under Akita’s umbrella, will have a total of 44 rigs in major resource basins in Canada and the United States. The merger is expected to help Akita sustain its position in the active Canadian markets. The merger is likely to be completed in Q3 of 2018-19.