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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (3099)	9/29/2012 11:14:16 AM
From: richardred	Respond to of 7252

No competing bids, but the money is in the bank finally. Forestar Group completes Credo acquisition Austin Business Journal by Sarah Drake, Web Editor Date: Friday, September 28, 2012, 11:24am CDT Enlarge Image File photo The local company has completed its acquisition of Denver-based Credo Petroleum Corp. Austin’s Forestar Group Inc. has completed its acquisition of a Denver oil and gas exploration, development and production company. Forestar (NYSE: FOR) — which agreed in June to buy Credo Petroleum Corp. (Nasdaq: CRED) — will pay $146 million, company officials said in a news release. Credo owns leasehold interests in more than 135,000 net mineral acres between North Dakota, Kansas, Nebraska and Texas. Forestar, which was founded in 2006 as a division of Austin-based Temple-Inland Inc., is a real estate, mineral and fiber resources management firm. The company employs 101 workers. In August, the local company reported a profit of $811,000 on $35.3 million in revenue during the second quarter, up from a loss of $3.9 million on $25.5 million in revenue during the same three months last year. bizjournals.com