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News Breaks | | | | September 4, 2012 | | 07:05 EDT |  | VQ | Venoco announces extension of go-private financing date
Venoco announced that, based on the recommendation of a special committee of independent directors, the board of directors of Venoco has agreed to extend to noon Eastern Time on September 13, 2012 the date by which committed financing must be obtained for the merger contemplated by the merger agreement among Venoco, Timothy Marquez, Denver Parent Corporation and another affiliate of Mr. Marquez. The End Date remains September 14, 2012. The merger was previously approved by a majority of the outstanding shares of Venoco common stock and a majority of the votes of the common stock not owned by Mr. Marquez, his affiliates, and by directors, officers and employees of Venoco or its subsidiaries. Completion of the transaction is subject to certain closing conditions. Neither Venoco nor Denver Parent Corporation has entered into definitive agreements with respect to any aspect of the financing. | |
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