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starbuxsux

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starbuxsux

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Tuesday, 06/10/2014 9:12:56 AM

Tuesday, June 10, 2014 9:12:56 AM

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Magnum Hunter to offer ~$45M for Ambassador Oil, to issue 5.1M shares

Jun 10 2014, 08:59 ET | About: Magnum Hunter Resources Corporation (MHR)

Magnum Hunter (MHR) -2.7% premarket after disclosing that it filed with the Australian Securities Exchange a notice of intention to make a takeover offer for Ambassador Oil and Gas (AOIGF).

MHR plans to issue ~5.1M common shares to acquire 100% of Ambassador; it would offer one share of stock for every 27.8 Ambassador shares, implying total consideration of ~US$45.2M.

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