EXCO Resources Inc (EXCE)

[OilStockReport]

How about a little more positive update this time around...

EXCO Resources (XCO)
The natural gas producer has been the subject of a many-months-long management buyout offer. The company created a special independent committee to solicit outside bids as well as judge the fairness of the CEO-led buyout proposal. In recent months, the stock traded above the $20.50 offer price only to drift lower. Yesterday, after The Wall Street Journal reported that CEO Douglas Miller's buyout team may have to adjust buyout plans following its failure to secure financing, the stock dropped more than 7% on 6x the average trading volume. The management has strong incentives to complete the deal or at least offer a different iteration that would placate shareholders.