Mergers and Acquisitions: Atlas Buys Stake In Equal Energy, Union Bought By Sidewinder
Atlas Resource Partners, L.P. (NYSE:ARP) buys the remaining 50 percent stake in Equal Energy Ltd.’s (NYSE:EQU) 8,500 net undeveloped acres in the core of the Mississippi Lime play located in northwest Oklahoma for $40 million. The site contains approximately 8 Mmcfe per day of Mississippi Lime net output along with salt water disposal infrastructure.
The United Kingdom firm Diageo plc (NYSE:DEO) is in discussion with India’s United Spirits and also its parent company United Breweries, concerning the purchase of an investment in United Spirits; thus far, no reports have surfaced regarding specifics. A report that came earlier in September said that Diageo could buy a 27 percent stake for 30 billion rupees, or $563 million, and that any deal would continue the company’s strategy of growing in emerging markets.
Shares of Union Drilling, Inc. (NASDAQ:UDRL) move up Tuesday as the company agrees to be acquired by Sidewinder Drilling in an all-cash transaction for $6.50 per share, or a total of $242 million.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>