August 31, 2018 / 12:55 AM / 5 months ago

PennEnergy beat 'less desirable' bids for bankrupt Rex Energy -financial adviser

(Reuters) -

The $600.5 million acquisition offer that Rex Energy Corp accepted last week dwarfed the only two other bids it received after putting itself on the block, a financial adviser to bankrupt oil and gas producer said in a court filing.

Rex said earlier this week in a filing with the U.S. Securities and Exchange Commission that it had agreed to sell itself to PennEnergy Resources LLC, another Pennsylvania-based energy producer.

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