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Kodiak Oil (KOG) Merger Review

Kodiak Oil & Gas Corp. (KOG) has entered into a definitive agreement to be acquired by Whiting Petroleum Corporation (WLL).  It is an all-stock transaction that values Kodiak Oil at $6.0 billion, based on the closing price of Whiting on July 11, 2014, and including Kodiak’s net debt of $2.2 billion as of March 31, 2014.

Kodiak Oil  shareholders shareholders are entitled to answers to important questions regarding the proposed merger

  • Does the merger agreement contain unfair termination provisions?  Under certain circumstances, Kodiak Oil must pay a near $130 million termination fee if the deal does not go through because Kodiak Oil accepts a better offer.  Does this termination fee provision make it economically impossible for a competing suitor to make a stronger offer?
  • Does the merger agreement place perhaps an undue burden on the board of directors relating to subsequent offers from third parties. 
  • Did Kodiak Oil board of directors obtain a fairness opinion from an independent investment bank?
  • What did the independent fairness show?
  • Did the board of directors engage other potential suitors?

Kodiak Oil merger or takeover shareholder lawsuit investigation

State security laws provide shareholders a no cost means to question a proposed sale of a publicly traded company.  This review process is deemed a shareholder class action and affords at times shareholders an avenue to investigate fully the proposed transaction.  At minimum, this process often obtains answers to the above questions.  If you own the common stock of Kodiak Oil and if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please fill out the contact form on this web page.