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Stock Market & Financial Investment News

News Breaks
July 24, 2014
06:34 EDTBBEP, QREBreitBurn Energy to acquire QR Energy for $3B
Breitburn Energy (BBEP) and QR Energy (QRE) signed a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange implying a transaction value of approximately $3.0B, including QR Energy’s existing net debt and outstanding Class C Convertible Preferred Units. As a result of the merger, Breitburn's pro forma enterprise value will be approximately $7.8B with current average daily production of approximately 57,300 boe/d, 67% liquids. The transaction is expected to be accretive to distributable cash flow per unit, and upon closing of the transaction, Breitburn has agreed to recommend to its Board a distribution increase to $2.08 per unit on an annualized basis. The transaction is expected to close in late 2014 or early 2015.
News For QRE;BBEP From The Last 14 Days
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November 18, 2014
16:07 EDTBBEP, QREQR Energy shareholders approve merger with BreitBurn Energy
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09:07 EDTBBEP, QREQR Energy to host special shareholder meeting
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