Post by
nuveux13 on Oct 16, 2013 9:53am
BXE-NGL Acquisition Vallue
BXE will only pay $69.7 million cash to NGL's 81M outstanding shares, thus each shareholder will only receive 69.7/(3.85*81) = 22% cash and 78% BXE stock. BXE stock trading at $8, NGL in BXE value = 0.4734* 8=$3.78 (versus cash of $3.85) which is presently a 2% discount to cash value.