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Abraxas Petroleum Corporation and Abraxas Energy Partners, L.P. Announce Merger Intention.

Publication: Mergers & Acquisitions Business
Publication Date: 08-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Abraxas Petroleum Corporation (NASDAQ:AXAS) ("Abraxas Petroleum") and Abraxas Energy Partners, L.P. ("Abraxas Energy") are pleased to announce that they have entered into a letter of intent with the holders of 96% of the common units of Abraxas Energy not held by a wholly-owned subsidiary of Abraxas Petroleum, pursuant to which Abraxas Energy will merge into Abraxas Petroleum.

The letter of intent provides for Abraxas Petroleum to acquire the outstanding common units of Abraxas Energy not currently held by a wholly-owned subsidiary of Abraxas Petroleum for $6.00 per common unit payable in shares of Abraxas Petroleum common stock. The number of shares of Abraxas Petroleum common stock will range...

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