The Special Committee of Dallas-based Exco Resources Inc.'s board (NYSE: XCO) has retained financial advisors Barclays Capital Inc. and Evercore Partners to assist in evaluating and determining the company's response to the proposal made in October by Douglas H. Miller, chairman and chief executive, to purchase all of the outstanding shares of stock of the company for a cash purchase price of $20.50 per share ($4.4 billion).
The Special Committee cautions its shareholders and others considering trading in its securities that no decisions have been made with respect to the proposal. Moreover, there can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.
Exco has oil and gas operations primarily in East Texas, North Louisiana, Appalachia and West Texas.
Continue reading about Exco's take-private proposal:
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