clr filing
Posted: Mon Oct 24, 2022 7:35 pm
Interesting read:
https://app.quotemedia.com/data/downloa ... oc273911_1
Best reason supporting 74.28 offer price
the fact that the Special Committee was able to negotiate an increase in the Offer Price from the $70.00 per Share consideration offered in the Proposal to $74.28 per Share, even though the WTI Prompt Price, the benchmark for oil prices in the U.S., decreased by 29.2% from $120.93 per barrel on June 13, 2022 (the date of the Proposal) to $85.61 per barrel on October 14, 2022 (the last trading day prior to the execution of the Merger Agreement), accompanied by significant declines in the price of longer-term futures contracts (for example, the WTI 3-Year Forward Price declined by 18.5% during the same time period);
https://app.quotemedia.com/data/downloa ... oc273911_1
Best reason supporting 74.28 offer price
the fact that the Special Committee was able to negotiate an increase in the Offer Price from the $70.00 per Share consideration offered in the Proposal to $74.28 per Share, even though the WTI Prompt Price, the benchmark for oil prices in the U.S., decreased by 29.2% from $120.93 per barrel on June 13, 2022 (the date of the Proposal) to $85.61 per barrel on October 14, 2022 (the last trading day prior to the execution of the Merger Agreement), accompanied by significant declines in the price of longer-term futures contracts (for example, the WTI 3-Year Forward Price declined by 18.5% during the same time period);