Oil Co. Denbury To Shell Out $4.5B For Encore

Law360, New York (November 2, 2009, 1:03 PM EST) -- Oil exploration and production company Denbury Resources Inc. has announced a $4.5 billion deal to buy Encore Acquisition Co. in a definitive merger agreement to be underwritten by JPMorgan Chase & Co.

Under terms of the agreement, announced Sunday, Denbury would also assume debt and the value of a minority interest in Encore Energy Partners LP. The combined company would keep the Denbury name and be headquartered in Plano, Texas.

Encore stockholders are set to receive $50 for each share of their uncommon stock. Of that,...
To view the full article, register now.