Hunton Andrews Kurth Represents Paloma Resources, LLC in $480 Million Definitive Merger Agreement

Time 2 Minute Read
November 22, 2021
News

Hunton Andrews Kurth LLP is representing Paloma Partners VI Holdings, LLC, an affiliate of Paloma Resources, LLC and EnCap Investments L.P, in its two-step acquisition of Goodrich Petroleum Corporation (NYSE American: GDP), which is targeted to close by December 31, 2021. Pursuant to the first step, a Paloma subsidiary will conduct an all cash tender offer to acquire all of Goodrich’s outstanding common stock for $23.00 per share. Supporting stockholders, that together with Paloma own a majority of the outstanding Goodrich common stock, have agreed to tender their Goodrich shares pursuant to the tender offer. In light of this stockholder support for the acquisition, the parties expect that immediately after successful completion of the tender offer, Goodrich will complete a second step merger and become a privately owned Paloma subsidiary. Equity financing for the acquisition is being provided by EnCap Energy Capital Fund XI L.P., an affiliate of EnCap Investments L.P.

The Hunton Andrews Kurth team was led by partners Mike O’Leary and Henry Havre, with the assistance of associates Erin Jennings, Casey Shaw, Hannah Bradley, Lexi Williams and Kathleen Dill. Partner Tommy Ford and associate Tim Strother handled Tax matters; partners Tony Eppert and Emily Cabrera handled Compensation and Benefits matters; partner Ian Goldberg and associate Alex Miron assisted with Oil & Gas matters; and partner Tammy Brennig handled credit facility matters.

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