Jefferies Raises Price Target on EOG Resources (EOG) Following Announced Merger
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Simmons Raises Price Target on EOG Resources (EOG) Following Yates Acquisition
September 8, 2016 9:01 AM EDTSimmons reiterated an Overweight rating on EOG Resources (NYSE: EOG), and raised the price target to $109.00 (from $103.00), following the company's Acquisition of Yates.
Analyst Pearce Hammond commented, "EOG shares are up 6% since announcing the $2.5B Yates acquisition yesterday. We think this is a smart... More
EOG Resources' (EOG) Price Target Raised to $108 at Deutsche Bank
September 6, 2016 2:08 PM EDTDeutsche Bank maintained a Buy rating on EOG Resources (NYSE: EOG) and raised its price target to $108.00 (from $105.00). Earlier EOG announced an agreement to combine with Yates. In the view of analyst Ryan Todd, the acquisition is "transformative" and comes at a "reasonable... More
Notable Mergers and Acquisitions 9/6: (ENB/(SE) (ARMH) (EOG) (CPHD/(DHR) (GE) (MON)
September 6, 2016 9:45 AM EDT*** Enbridge Inc. (NYSE: ENB) (Enbridge) and Spectra Energy Corp (NYSE: SE) (Spectra Energy) today announced that they have entered into a definitive merger agreement under which Enbridge and Spectra Energy will combine in a stock-for-stock merger transaction (the "Transaction"), which values Spectra Energy common stock at approximately C$37 billion (US$28 billion), based on the closing price of Enbridge's common shares on September 2, 2016. The combination will create the largest energy infrastructure company in North America and one of the largest globally based on a pro-forma enterprise value of... More
EOG Resources (EOG), Yates Petroleum Enter $2.5B Merger Agreement
September 6, 2016 7:08 AM EDTEOG Resources, Inc. (NYSE: EOG) and Yates Petroleum Corporation announced definitive agreements under which EOG has agreed to combine with Yates Petroleum Corporation, Abo Petroleum Corporation, MYCO Industries, Inc. and certain other entities (collectively, Yates). Under the terms of this private, negotiated transaction, EOG will issue 26.06 million shares of common stock valued at $2.3 billion and pay $37 million in cash, subject to certain closing adjustments and lock-up provisions. EOG will assume and repay at closing $245 million of Yates debt offset by $131... More
