Denbury Resources Penn Virginia Corp Acquisition

Houston upstream energy co. to be acquired by Plano co. for $1.7B

Houston-based Penn Virginia Corp. (Nasdaq: PVAC), an upstream energy company focused on the Eagle Ford Shale, has found a buyer three months after announcing it would evaluate “strategic alternatives.”

Plano, Texas-based Denbury Resources Inc. (NYSE: DNR) will acquire Penn Virginia in a deal valued at $1.7 billion, including the assumption of debt, according to an Oct. 28 press release. The deal is expected to close in the first quarter of 2019. Denbury stockholders will own about 71 percent of the combined company, and Penn Virginia shareholders will own the other 29 percent.

For each share of PVAC, Penn Virginia shareholders will receive a combination of 12.4 shares of Denbury common stock and $25.86 of cash, representing total consideration of $79.80 per share based on Denbury’s Oct. 26 closing price. Penn Virginia shareholders will be able to receive all stock or all cash, as long as Denbury does not pay more than $400 million in cash combined.

(Read more)

About SwiftLease
SwiftLease is focused specifically on assisting our small business clients through the office space leasing process, which includes locating space, arranging tours, collaborating and advising on negotiations, and coordinating the lease and tenant improvement process. We currently service small businesses in the Texas markets of Houston, Dallas, San Antonio, and Austin. Best of all our service is free to you as we are paid a standard leasing commission by the Landlord once you sign a lease. We have a database of office space listings to assist our clients in finding the space that fits their needs the best. The available options for your business space include in the Texas markets we service of Houston, Dallas, San Antonio, and Austin are:

  • High-rise office buildings
  • Mid-rise offices buildings
  • Space in office parks
  • Medical offices
  • Executive suites
  • Co-Working offices
  • Subleases

Don’t know how much space you need? SwiftLease will help you calculate your approximate square footage needs and find the perfect office space. Our clients range from artists, attorneys, consultants, dentists and doctors opening private practices, franchise owners from other markets, inventors, moving companies, manufacturing start-ups and many more. We realize that no two businesses are the same, so our agents work diligently to find an office space that works for each small business’ unique needs. We also pride ourselves on knowing the local market inside and out, and our professionals have expertise in a wide range of topics, including Denbury Resources Penn Virginia Corp Acquisition. Regardless of the type of business space, SwiftLease can help your business find a location that works best for you.

After contacting SwiftLease and you will be assigned your own dedicated agent. You will tell us about your small business, how much office space you need, your budget, when you want to move, and some other details. Within 24 hours we will send you a qualified list of buildings that meet your building and space criteria. SwiftLease agents are experts in Denbury Resources Penn Virginia Corp Acquisition. We will send you options that meet your criteria – space, budget, availability and location. Don’t delay, contact us today!