Battalion Oil Corporation Entered Into An Agreement And Plan Of Merger With Fury Resources; Fury To Acquire All Outstanding Shares Of Common Stock For $9.80/Share; Represents ~$450M Total Transaction Value
Portfolio Pulse from Benzinga Newsdesk
Battalion Oil Corporation has agreed to a merger with Fury Resources, with Fury set to acquire all outstanding shares of Battalion at $9.80 per share. The deal is valued at approximately $450 million and is expected to close in the first quarter of 2024, pending customary closing conditions and approval from Battalion's stockholders.

December 15, 2023 | 1:58 pm
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Battalion Oil Corporation is set to be acquired by Fury Resources for $9.80 per share, in a deal valued at $450 million, expected to close by Q1 2024, subject to stockholder approval.
The announcement of the acquisition typically leads to a positive short-term impact on the stock price of the company being acquired, as the offer price represents a premium over the current trading price. The deal's completion is subject to approval by Battalion's stockholders, which adds a level of uncertainty, but the substantial nature of the transaction and the clear terms suggest a high likelihood of completion.
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