Chesapeake Agrees To Settle Suit Over $315M Deal

Law360, New York (May 31, 2011, 6:55 PM EDT) -- Chesapeake Energy Corp. and Bronco Drilling Co. Inc. on Tuesday announced a settlement of a consolidated class action in Oklahoma court challenging Chesapeake’s $315 million acquisition of Bronco, agreeing to delay a cash tender offer and additional disclosures regarding the sale process.

The settlement, if approved, would end litigation from Bronco shareholders seeking to block Chesapeake's bid to take over the company. Chesapeake and Bronco agreed to settle similar class actions in Delaware Chancery Court on May 17. The settlement announced Tuesday relates to a case...
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