Printer Friendly

HADSON ENERGY RESOURCES MERGES WITH APACHE CORP. SUBSIDIARY

 HOUSTON, Nov. 12 /PRNewswire/ -- Apache Corp. (NYSE: APA) and Hadson Energy Resources Corp. (HERC) today announced that HERC stockholders have voted to approve an agreement providing for the acquisition of HERC by Apache through a merger of HERC with an Apache subsidiary.
 Pursuant to the merger, which is effective immediately, all HERC stockholders (other than Apache) may elect to receive either $15 in cash or .574-share of Apache common stock in exchange for each share of HERC common stock. Fractional shares of Apache common stock will be paid in cash.
 The merger preempts Apache's offer to purchase, which was in effect concurrently with the merger proposal, and all HERC stockholders will receive their choice of either cash or Apache common stock, whether or not they previously tendered their HERC shares. New letters of transmittal will be provided to those HERC stockholders who did not tender their shares in connection with the offer to purchase.
 Apache Corp. is an independent energy company engaged in exploration for and development and production of natural gas and crude oil. The company's securities are traded on the New York and Chicago Stock Exchanges (symbol APA).
 -0- 11/12/93
 /CONTACT: John Kelso, 713-296-6154/
 (APA)


CO: Apache Corp.; Hadson Energy Resources Corp. ST: Texas IN: OIL SU: JVN

EH-MF -- LA016 -- 3690 11/12/93 12:26 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 12, 1993
Words:221
Previous Article:STATORDYNE CORP. ANNOUNCES FISCAL 1994 FIRST QUARTER RESULTS
Next Article:ANGELES MORTGAGE INVESTMENT TRUST REPORTS THIRD QUARTER FISCAL 1993 RESULTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters