02 Jun 2016
Rock Energy (RE) to be Acquired by Raging River Exploration (RRX) for $109 mm in All-Share Deal
Raging River Exploration has agreed to acquire all of the outstanding shares and debt of Rock Energy for total consideration of $109 mm or $0.89/sh in an all-share deal. Through the deal, Rock shareholders gain exposure to a material, high quality Viking footprint within a better capitalized entity. As such, we have moved our ranking to Tender and our target price to $1.09/sh.
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Rock Energy (RE) to be Acquired by Raging River Exploration (RRX) for $109 mm in All-Share Deal
R.E.A. Holdings plc (RE:LON) | 66.2 0 0.0% | Mkt Cap: 29.0m
- Published:
02 Jun 2016 -
Author:
Robert Fitzmartyn -
Pages:
6
Raging River Exploration has agreed to acquire all of the outstanding shares and debt of Rock Energy for total consideration of $109 mm or $0.89/sh in an all-share deal. Through the deal, Rock shareholders gain exposure to a material, high quality Viking footprint within a better capitalized entity. As such, we have moved our ranking to Tender and our target price to $1.09/sh.