Encana Announces Transformative Acquisition of Athlon Energy to Establish a Premier Oil Position in the Permian
CALGARY, AB--(September 29, 2014) - Encana Corporation (Encana) (ECA.TO) (ECA) and Athlon Energy Inc. (Athlon) (ATHL) today jointly announced that the two companies have entered into a definitive merger agreement for Encana to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon by means of an all-cash tender offer (the "Offer") for US$5.93 billion (US$58.50 per share), as well as Encana assuming Athlon's US$1.15 billion of senior notes, for a total transaction value of approximately US$7.1 billion. The Athlon board of directors has unanimously recommended to its shareholders that they tender to the offer.
- Published: 29 September 2014
- Written by Editor