July 5 Oil and gas company Credo Petroleum Corp
, which agreed to be acquired by Forestar Group Inc
, said it failed to get any alternate offer during a
Forestar Group said in June it planned to buy Credo for $146
million in cash, offering a 33 percent premium.
Credo had a 30-day go-shop period to seek out a better offer
under the deal. The deadline expired on July 3.
Credo expects the merger to be completed in the second half
Shares of Credo closed at $14.42 on Tuesday on the Nasdaq.
They have traded below Forestar's offer price of $14.50 per
share over the last month.
Forestar shares closed at $12.76 on Tuesday on the New York