Richard Zeits
Oil & gas, commodities, long/short equity, research analyst

EXCO Resources: The Board Forms A Special Committee To Review Strategic Alternatives

Important note: This article is not an investment recommendation and should not to be relied upon when making investment decisions - investors should conduct their own comprehensive research. Please read the disclaimer at the end of this article. EXCO Resources' (NYSE:XCO) stock reacted to the company's May 13 press release regarding the formation of a special committee to evaluate and recommend strategic alternatives with a 60% drop, bringing the company's equity market capitalization to ~$200 million. (EXCO's net debt stood at ~$1.2 billion at the end of the first quarter.) The press release appears to indicate that the company's balance sheet restructuring effort will be moving into the next phase. The obvious concern with regard to EXCO is ...
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