Parallel Petroleum (PLLL) Acquired By Apollo Global Management for $3.15/Share
Parallel Petroleum Corporation (NASDAQ: PLLL) entered into a definitive agreement for the Company to be acquired by an affiliate of Apollo Global Management, LLC, a leading global alternative asset manager, in a transaction valued at approximately $483 million, including the assumption or repayment of approximately $351 million of net indebtedness.
Under the terms of the agreement, Parallel stockholders would receive $3.15 per share in cash. Shares of Parallel Petroleum closed at $2.84 yesterday.
Under the terms of the agreement, Parallel stockholders would receive $3.15 per share in cash. Shares of Parallel Petroleum closed at $2.84 yesterday.
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