Fly News Breaks for March 9, 2015
WLL
Mar 9, 2015 | 12:43 EDT
After The Wall Street Journal on Friday reported that Whiting is in the midst of an auction process to potentially sell itself, .BofA/Merrill wrote that Whiting is a "prime" takeover candidate, given its attempt to sell itself in 2012. The firm adds that the scale of Whiting's assets has increased significantly since 2012, while its leverage is likely to rise this year, due to its acquisition of Kodiak and the collapse in the price of oil. The firm says that larger international companies with strong balance sheets would be likely suitors for the company. BofA/Merrill keeps a $45 price target and Buy rating on Whiting.
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