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Stock Market & Financial Investment News

News Breaks
July 24, 2014
06:34 EDTQRE, BBEPBreitBurn 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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May 6, 2015
10:03 EDTBBEPOn The Fly: Analyst Upgrade Summary
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06:09 EDTBBEPBreitBurn Energy upgraded to Hold from Sell at Wunderlich
Wunderlich upgraded BreitBurn Energy to Hold with a $7 price target saying the worst is behind the company following its Q1 results.
May 5, 2015
08:40 EDTBBEPBreitBurn Energy reports Q1 EPS with charges (29c), consensus 6c
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