EPL Comments on ATS' Tender Offer Results
Energy Partners, Ltd. issued the following statement regarding the results of the tender offer made by ATS Inc., a wholly-owned subsidiary of Woodside Petroleum, Ltd., which were announced today:
"With significantly less than 1% of EPL's outstanding shares tendered, our stockholders have sent a clear message that they agree with our Board's belief that the ATS offer is inadequate. We will continue to act in the best interests of our stockholders and appreciate the strong level of confidence that they have expressed in our strategy and our management team."
As previously announced on September 14, 2006, the EPL Board of Directors rejected as inadequate ATS' unsolicited offer and recommended that EPL stockholders not tender their shares into the offer.
The Company also noted that it would review ATS' request that EPL's Board set a record date for a consent solicitation and will respond in due course.
- W&T Sells South Timbalier Stake to Energy Partners (May 15)
- Energy Partners Concludes Acquisition of GOM Properties (Feb 15)
- Energy Partners Regains Supplemental Waiver Status from MMS (May 03)
Company: Woodside more info
Operates 3 Offshore Rigs
- Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
- Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
- Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)