Morgan Lewis, Vinson Pilot $390M Contango, Crimson Merger

Law360, New York (April 30, 2013, 1:46 PM EDT) -- Contango Oil & Gas Co. has struck a $390 million deal to pick up Crimson Exploration Inc., significantly expanding the oil and natural gas company's onshore drilling project base, the parties announced Tuesday.

Per the stock and debt deal, each Crimson share will be converted into a .082 share of Contango stock and Contango will assume about $244 million of existing debt. The share conversion represents an 8 percent premium on Crimson's closing stock price of $3.19 per share on Monday and will result in Crimson...
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