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Article: United States : Fort Worth oil, natural gas company to be bought in $4.5 billion deal.
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: manish03
Encore Acquisition Co., a successful oil and natural gas firm based in downtown Fort Worth, is being acquired by Plano-based Denbury Resources in a deal that would create one of the largest independent exploration and production companies in North America that focuses primary on oil.
Denbury, which has substantial oil properties in Mississippi, said in an announcement Sunday that it will pay $2.64 billion in cash and stock for Encore.
The Denbury and Encore boards have approved the deal, which is expected to close in early 2010, subject to shareholders approval. After the acquisition is complete, Denbury stockholders will own ...