Case Details for "Encore Acquisition Co."

Investigation of Encore Acquisition Co.

Lawyers are investigating potential securities claims on behalf of shareholders of Encore Acquisition Co. ("Encore" or the "Company") (NYSE: EAC) arising from the Company's agreement to be acquired by Denbury Resources, Inc. ("Denbury")(NYSE: DNR) in a deal valued at $4.5 billion. Under the proposed acquisition, Encore's shareholders will receive $15.00 in cash and $35.00 in Denbury common stock for each share of Encore stock they own.

The investigation is focused on the potential unfairness of the consideration to be paid to Encore shareholders as well as the potential unfairness of the process by which the Encore's Board of Directors is addressing the transaction. In particular, the consideration of approximately $50 per share offered to Encore shareholders appears to be lower than the target price issued by financial analysts for Encore stock, with one analyst issuing a target price for Encore stock of $60 per share. Further, the merger agreement provides for a hefty termination penalty of $120 million.

Posted on:11/06/2009
Company: Encore Acquisition Co.
Affected Class: Current shareholders
Scope: Nationwide

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