Encana Extends Athlon Energy Tender Offer

November 03:


Encana said the extension is being made in connection with a memorandum of understanding for a settlement of lawsuits related to the merger agreement.
The tender offer was extended to Nov. 12 from Nov. 7.
Encana agreed in September to buy Athlon for $5.93 billion in cash, or $58.50 a share.
Encana will assume Athlon's $1.15 billion of senior notes, bringing the deal's total value to about $7.1 billon.
Revisions to the merger agreement include a requirement that Athlon publicly disclose other acquisition proposals it may receive, and a reduction in the termination fee to $59.3 million from $207.5 million.
As of Friday, about 35.3 million Athlon shares were tendered and not withdrawn. During the second quarter, Athlon had an average of 93.4 million shares outstanding.


Source: 
www.nasdaq.com/article/encana-extends-athlon-energy-tender-offer-20141103-01672?

Comments