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   Non-TechAttractive opportunities in already announced mergers


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To: D. K. G. who wrote (54)6/19/2012 3:42:56 PM
From: D. K. G.
   of 64
 
Venoco CEO gets more time for buyout financing
Denver Business Journal by Mark Harden, New Media EditorDate: Wednesday, June 13, 2012, 4:31pm MDT
Related: Energy, Mergers and Acquisitions, Oil & gas

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DBJ file
Venoco Inc. Chairman and CEO Timothy Marquez

Mark HardenNew Media Editor- Denver Business Journal Email | Facebook | Twitter | Broadway & 17th blog
Venoco Inc. Chairman and CEO Timothy Marquez has been given more time to line up financing for his planned $735 million buyout of the company.

Under terms of his offer for the Denver oil and gas company (NYSE: VQ), Marquez originally had until Tuesday, June 12, to provide the Venoco board with financing commitment letters.

But Marquez asked that the deadline be extended to July 20, and the board has granted that request, Venoco disclosed in a securities filing Wednesday.

“The [buyout agreement] contemplates that it might be necessary to provide Mr. Marquez some additional time to secure financing,” Rick Walker, chairman of a special committee of the Venoco board overseeing the buyout, “and allows for an extension of the financing deadline if the committee believes an extension is reasonable under the circumstances.”

The Pacific Coast Business Times of Santa Barbara reports that Marquez needs to finance nearly $400 million to close the deal.

> MORE: The DBJ’s June 2011 profile of Tim Marquez.

Venoco shareholders voted June 5 to approve Marquez’s $12.50-per-share buyout offer, which he announced last August. He plans to take the company private.

The acquisition is to be made through a company called Denver Parent Corp.

Marquez and his wife already own 50.3 percent of the shares in Venoco (NYSE: VQ).

Venoco focuses its exploration efforts in California, both offshore and onshore. It operates three offshore platforms in the Santa Barbara Channel.

Marquez said in January that he plans to give up the CEO title in the third quarter of 2012 and serve as executive chairman, guiding growth and acquisitions. COO Ed O’Donnell is to succeed him as CEO.

Mark Harden is print and digital content editor for the Denver Business Journal and writes for the "Broadway & 17th" blog. Email: mharden@bizjournals.com.

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To: D. K. G. who wrote (55)6/19/2012 3:46:23 PM
From: D. K. G.
   of 64
 
A 20% Arbitrage Opportunity With Venoco

seekingalpha.com

Broken clocks, blind squirrels finding nuts and my 9 dollar support fishing trip are working out in this Arb....so far.

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From: bpkaus6/30/2012 12:47:28 AM
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There are a number of US listed China stks with proposed takeovers by management. A couple I'm optimistic will actually get done include AMCF and WH, both of which are trading at less than half the proposed takeout price. This is unfortunately buyer beware territory with widespread fraud in the sector. One example of suspected fraud is TBET, which I unfortunately own in addition to AMCF and WH.

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To: D. K. G. who wrote (56)8/16/2012 9:20:20 AM
From: D. K. G.
   of 64
 
7:11AM Venoco announces advanced financing discussions ( VQ) 9.53 : Co announced that it has been informed by Denver Parent ("DPC"), an affiliate of Timothy Marquez, Venoco's Executive Chairman, that DPC is engaged in advanced discussions regarding the financing of the merger contemplated by the merger agreement among Venoco, Mr. Marquez, DPC and another affiliate of Mr. Marquez. DPC has advised Venoco that it expects the $436.5 million financing package to consist of a $21.5 million initial draw on a new first lien revolving credit facility with an initial borrowing base of $125 million, a $175 million second lien term loan at Venoco, an asset sale from Venoco to DPC in the amount of $210 million and capital raises by DPC in the amount of $240 million, including a volumetric production payment on the assets sold to DPC by Venoco. A completion date of the financing and closing of the merger has not been set although the transactions are currently expected to close prior to September 14, 2012. Neither Venoco nor DPC has entered into definitive agreements with respect to any aspect of the financing.

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To: D. K. G. who wrote (58)9/24/2012 3:39:34 PM
From: D. K. G.
   of 64
 
Booking VQ Profit$. Other opportunities beckon.

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From: Paul Senior10/3/2012 10:10:00 PM
   of 64
 
VQ deal closed today, finally. I got impatient/worried and sold most recently. Still in for some though at the end.

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From: Paul Senior5/15/2017 2:37:22 PM
   of 64
 
I'll bet the CAB (Cabela's) acquistion offer by Bass Pro Shops goes through to completion.

In now for a few CAB shares.

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To: Paul Senior who wrote (61)9/7/2017 9:51:10 AM
From: Paul Senior
1 Recommendation   of 64
 
Cabella's acquisition offer going to get done with announced financing being approved. Deal had looked shaky and CAB stock price stayed well below acquisition price until today. I'd been worried, but held on.

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From: Paul Senior4/14/2020 1:10:03 PM
   of 64
 
I'll risk a few shares of TGE now , betting that Blackstone will buy the company at agreed upon price.

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From: Paul Senior5/23/2020 4:36:26 PM
   of 64
 
TGE worked out unusually well: about 2 points in a twenty dollar stock in just a few days.

Tried again with another - SORL. That was completed too.

Still, these make me uncomfortable. A few work out ok/good, then there's that one that fails to consummate and so the stock drops 50%, knocking out the gains from the several previous.

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