Vinson & Elkins Reps Vanguard In $546M Encore Buy

Law360, New York (July 11, 2011, 1:28 PM EDT) -- Vanguard Natural Resources LLC said Monday it would buy the units of Encore Energy Partners LP it didn't already own for about $546 million, expanding its oil and natural gas properties and slashing costs.

Encore's public unitholders will receive 0.75 Vanguard common units for each Encore unit, a 4.4 percent premium on the March 24 closing prices of the two Houston-based companies, when Vanguard offered Encore unitholders 0.72 Vanguard common units for each Encore unit.

The price is also a 51 percent premium on the $380...
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