LRE
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  • Apr. 21, 2015, 7:48 AM
    • Vanguard Natural Resources (NASDAQ:VNR) agrees to acquire LRR Energy (NYSE:LRE) in a cash and stock deal totaling $539M.
    • The deal will be a tax-free unit-for-unit transaction with an exchange ratio of 0.55 VNR common units per LRE common unit.
    • VNR says LRE's long-life, low-decline, mature assets are well-suited for its upstream MLP model, the assets add additional scale to its existing Permian and Arkoma Basins, and production of ~40MM cfe/day will increase its current production by 10%.
    • VNR +3.2%, LRE +7.9% premarket.
    | Apr. 21, 2015, 7:48 AM | 1 Comment