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Article: SANTA FE ENERGY RESOURCES ANNOUNCES MERGER WITH ADOBE RESOURCES
- Article from:
- PR Newswire
- Article date:
- December 11, 1991
CopyrightCOPYRIGHT 1991 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SANTA FE ENERGY RESOURCES ANNOUNCES MERGER WITH ADOBE RESOURCES
NEW YORK, Dec. 11 /PRNewswire/ -- James L. Payne, chairman and chief executive officer of Santa Fe Energy Resources, Inc. (NYSE: SFR), and Stanley R. Rawn Jr., chairman and chief executive officer of Adobe Resources Corporation (NYSE: ADB), today announced the signing of a definitive merger agreement under which Adobe Resources will be merged with and into Santa Fe Energy Resources.
The merger is expected to result in a combined company with a greater cash flow per share, a lower debt-to-equity ratio, and an annual reduction in the combined overhead of more than $15 million. The merger will provide ...
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