Service & Supply | Finance & Investing | General News | Oilfield Services | Capital Markets
ProPetro Adopts Poison Pill Strategy After Wilks Bros. Investment
Email
Print 
Bookmark
ProPetro Holding Corp.'s board has approved the adoption of a short-term (less than one-year) stockholder rights plan in the form of a "poison-pill" strategy.
This comes on the heels of the Wilks Brothers LLC taking a 10% stake in the company.
The strategy is used to guard against tactics to gain control of the Company without paying all stockholders an appropriate premium for that control.
The Board believes that the current trading price of the Company’s common stock does not reflect the Company’s long-term value, making ProPetro a takeover target.
The Rights Plan has a term of less than one year, expiring on March 31, 2021.
Related Categories :
General News
More General News News
-
Phillips 66 Makes Offer to Buy DCP Midstream for $34.75/Share
-
Hamm Family Proposes Taking Continental Resources Private for $25B
-
Exxon, Hess to Proceed with Yellowtail Development Offshore Guyana
-
Operators Cite Investor Pressure for Production Growth Restraint
-
Citing Ukraine Invasion, BP to Dump 19.75% Stake in Rosneft, Exit Board
Permian News >>>
-
Crescent Energy Said to be in Advance Talks to Acquire Pure Play Permian, Vital Energy -
-
SM Energy Hits Record Output; Driven by Uinta
-
The Permian Play: How ExxonMobil Is Rewriting the Shale Narrative -
-
Large Cap E&P To Reduce Drilling & Completion Activity in 2026 -
-
$2.4B Deal Gives MPLX Sour Gas Edge in Permian -
