Vinson & Elkins Reps Exco CEO In $4B Takeover Bid

Law360, New York (November 1, 2010, 12:16 PM EDT) -- Exco Resources Inc. announced Monday that its CEO has teamed up with Texas billionaire T. Boone Pickens and two private investment funds in a $4.36 billion bid to take over the natural gas and oil company.

Dallas-based Exco said it would establish a special committee to consider Chairman and CEO Douglas H. Miller's proposal to buy outstanding shares of the company’s stock for $20.50 a share.

The company's shares surged after the announcement, jumping more than 31 percent to trade at $19.49 at midday Monday....
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