Deals
Energy XXI to Acquire EPL Oil & Gas for $1.5 Billion
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Energy XXI (Bermuda) Ltd. agreed to acquire EPL Oil & Gas Inc. for $1.5 billion to become the largest publicly traded independent producer on the Gulf of Mexico shelf.
The purchase price of $39 a share for EPL stockholders represents a 34 percent premium over the company’s closing price yesterday, according to a statement today. The transaction will be 65 percent cash and 35 percent Energy XXI common shares.