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Stock Market & Financial Investment News

News Breaks
January 4, 2013
07:25 EDTFSTForest Oil upgraded to Market Perform from Underperform at Raymond James
Raymond James upgraded Forest Oil to reflect the sale of its non-core South Texas assets and improving leverage.
News For FST From The Last 14 Days
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October 20, 2014
07:09 EDTFSTForest Oil announces commencement of proxy mailing
Forest Oil Corporation will commence mailing definitive proxy materials today in connection with the meeting to Forest shareholders for the purpose of voting on the previously announced business combination transaction between Sabine Oil & Gas LLC and Forest. Todayís action follows completion of the Securities and Exchange Commission review process last week. Forest has scheduled the special meeting of shareholders for November 20, 2014, to consider and vote on the proposed merger agreement with Sabine. Forest shareholders of record at the close of business on October 3, 2014, the record date, are entitled to notice of, and to vote at, the Forest special meeting. Closing of the transaction is subject to approval of shareholders of Forest, necessary regulatory approvals and other closing conditions. If approved, Forest anticipates the transaction to close in 2014.
October 6, 2014
17:31 EDTFSTForest Oil agrees to purchase Texas gas properties for $20M
Forest Oil Corporation (FST) said in a regulatory filing that it had agreed to purchase certain oil and gas properties located in the state of Texas together with various other related interests, rights, wells, leasehold interests, records, equipment, and other assets from BP America Production Company, a subsidiary of BP (BP), and Brammer Engineering pursuant to a closing letter agreement dated September 18 from BP, and accepted by Forest and Brammer on the closing date and a deed and assignment and bill of sale dated as of the closing date by and among Forest and the sellers. The assets exclude, among other things, certain rights, claims, credits, fee mineral interests, proprietary data, and records. The total consideration to be paid by Forest for the assets is $20M in cash, subject to customary adjustments to reflect the operation of the oil and gas assets prior to the closing, title defects, and unresolved consents to assignment and environmental defects. There are no relationships between Forest or any of Forestís officers, directors, or affiliates, on the one hand, and sellers, on the other hand.
07:03 EDTFSTForest Oil sys proposed combination with Sabine continues to progress
Forest Oil Corporation and Sabine Oil & Gas announced that the proposed business combination transaction between Forest and Sabine continues to progress. Forest has set the date for the special meeting of its shareholders to consider and vote on, among other items, the combination between Forest and Sabine as November 20 pending completion of the SECís proxy statement review. Forest shareholders of record as of the close of business on October 3, will be entitled to vote at the special meeting. Additional information concerning the special meeting, including its time and location, will be provided in the Forest definitive proxy statement, which will be mailed promptly to shareholders after it is finalized. Both Forest and Sabine remain fully committed to completing this transaction in 2014.

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