* Deal process could end within weeks-source
* CEO so far unable to take full company private
By Mike Erman
NEW YORK, June 24 EXCO Resources (XCO.N) Chief
Executive Douglas Miller is considering a deal structure that
would leave part of his company public because he is having
difficulty raising financing for a deal to take the entire
company private, a source familiar with the matter told Reuters
Last November, Miller teamed up with investors, including
oilman T. Boone Pickens, and bid about $4.36 billion to take
the company off the public markets. The group offered $20.50
per share to buy the remaining shares of the company.
Miller is now under pressure to present a final bid to the
board's special committee as the process has dragged on.
The source also told Reuters that the process should end
within a few weeks. The source spoke on a condition of
anonymity because the information was not public.
The news was first reported by the Wall Street Journal on
Friday. The newspaper said that Miller was studying a leveraged
buyout with a "public stub" allowing a portion of the company
to stay publicly traded.
Miller was not able to be reached for comment late on
Exco Resources shares closed at $18.78 on Friday.
(Additional reporting by Jochelle Mendonca in Bangalore;
editing by Carol Bishopric)