UPDATE: Forestar (FOR) Will Acquire Credo Petroleum (CRED) for $14.50/Share
(Updated - June 4, 2012 8:34 AM EDT)
Credo Petroleum (Nasdaq: CRED) trading halted to announce: Forestar (NYSE: FOR) will acquire the company for $14.50/share, or approximately $146 million in the aggregate. The transaction has also been approved by the board of directors of Forestar.
The transaction is expected to close in the second half of 2012, and is subject to a number of customary closing conditions, including approval of Credo's stockholders. The transaction is not subject to approval by Forestar stockholders nor is it subject to any financing conditions.
Credo Petroleum (Nasdaq: CRED) trading halted to announce: Forestar (NYSE: FOR) will acquire the company for $14.50/share, or approximately $146 million in the aggregate. The transaction has also been approved by the board of directors of Forestar.
The transaction is expected to close in the second half of 2012, and is subject to a number of customary closing conditions, including approval of Credo's stockholders. The transaction is not subject to approval by Forestar stockholders nor is it subject to any financing conditions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM) Nears Acquisition of Software Provider HashiCorp (HCP) - WSJ
- Hibbett (HIBB) soars 18% on deal to sell to JD Sports for $1.08 billion
- Kroger (KR), Albertsons and C&S Wholesale Grocers Announce an Updated and Expanded Divestiture Plan
Create E-mail Alert Related Categories
Hot M&A, Mergers and Acquisitions, Trading HaltsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!