Ngas Resources/Magnum Hunter
On December 27, 2010, Ngas Resources (Nasdaq: NGAS) entered a definitive agreement to be acquired by Magnum Hunter Resources (Amex: MHR) for an estimated value of $98 million.
According to the terms of the deal, each common share of the Company will be transferred to Magnum Hunter for the right to receive 0.0846 of a share of Magnum Hunter common stock. The exchange ratio for the transaction, which will not be adjusted for subsequent changes in market prices, was established based on an intraday price of $6.50 for Magnum Hunter stock.
The transaction is expected to close in Q111 or early Q211.
BMO acted as Financial Advisor and Capital One Southcoast, Inc. provided a Fairness Opinion to Magnum Hunter's Board of Directors.
Fulbright & Jaworski L.L.P. acted as Legal Advisor to Magnum Hunter.
According to the terms of the deal, each common share of the Company will be transferred to Magnum Hunter for the right to receive 0.0846 of a share of Magnum Hunter common stock. The exchange ratio for the transaction, which will not be adjusted for subsequent changes in market prices, was established based on an intraday price of $6.50 for Magnum Hunter stock.
The transaction is expected to close in Q111 or early Q211.
BMO acted as Financial Advisor and Capital One Southcoast, Inc. provided a Fairness Opinion to Magnum Hunter's Board of Directors.
Fulbright & Jaworski L.L.P. acted as Legal Advisor to Magnum Hunter.
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NGAS (NGAS) Withdraws $150M Mixed Shelf
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Notable ETF Movers of the Day 12/28: VXX, GLD, UNG Higher; FXI, XHB, FXE Lower
