M&A · Energy · Crude Petroleum & Natural Gas
Bonanza Creek to acquire HighPoint Resources Corp
Announced Nov 9, 2020 · Closed Apr 1, 2021
Deal value$8MEV $741M
Premium—To unaffected price
EV / Adj. EBITDA—2.4x EV / Revenue
ConsiderationAll stock$1.83 per share
Transaction
- Acquirer
- Bonanza Creek
- Target
- HighPoint Resources Corp (HPR)
- Buyer type
- Strategic
- Offer price per share
- $1.83
- Enterprise value
- $741M
- Status
- Closed Apr 1, 2021
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Evercore
- To the target
- Tudor, Pickering, Holt, Perella Weinberg
Classification
- Sector
- Energy
- Industry
- Crude Petroleum & Natural Gas
Timeline
- AnnouncedNov 9, 2020
- Proxy filedFeb 10, 2021
- Definitive proxyFeb 10, 2021
- Shareholder voteMar 12, 2021
- ClosedApr 1, 2021