Akin Gump Reps Laredo In $1B Broad Oak Deal

Law360, New York (June 16, 2011, 5:48 PM EDT) -- Oklahoma-based Laredo Petroleum LLC said Thursday it would buy Texas-based Broad Oak Energy Inc. in a private stock and debt deal valued at $1 billion that will expand the company's position in the Permian Basin oil fields.

In the transaction, which is expected to close at the beginning of July, Laredo would provide newly issued units of its stock to Broad Oak and pay off the target company's existing debt with funds from a revised $1 billion loan, as well as make Broad Oak a wholly...
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