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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (94434)11/15/2001 8:53:17 AM
From: The Ox  Read Replies (1) of 95453
 
Comstock agrees to buy DevX
by: OilOnline
Wednesday, November 14, 2001

DevX Energy, Inc. has entered into a definitive agreement which
provides for a wholly owned subsidiary of Comstock Resources, Inc.
to acquire DevX in a transaction in which DevX shareholders would
receive $7.32 in cash per DevX share.

The acquisition will be effected by a first step cash tender offer for all
of DevX's outstanding common stock. The tender offer is expected to
commence on November 15, 2001 and to remain open for at least 20
business days. The tender offer will be followed by a merger in which
shareholders whose shares are not acquired in the tender offer will
receive $7.32 per share in cash. The offer is conditioned on, among
other things, greater than 50% of the outstanding DevX shares being
tendered.
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