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Article: United States: Edge Petroleum ends acquisition deal with Chaparral.
- Article from:
- TendersInfo
- Article date:
- December 18, 2008
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Byline: manish03
Edge Petroleum Corp (EPEX.O: Quote, Profile, Research, Stock Buzz) said it agreed to terminate a deal to be acquired by Chaparral Energy Inc, a private independent exploration and production company, due to lack of debt and equity financing.
Edge also said it is actively considering other strategic alternatives, including a possible sale or merger of the company. Under the merger-termination agreement, Magnetar Capital, a privately held investment firm, will pay Chaparral $5.0 million, of which $1.5 million will be paid ...