M&A · Energy · Crude Petroleum & Natural Gas
Hamm Family to acquire Continental Resources, Inc
Announced Oct 17, 2022 · Closed Nov 23, 2022
Deal value—
Premium15.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationNot disclosed
Transaction
- Acquirer
- Hamm Family
- Target
- Continental Resources, Inc (CLR)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Nov 23, 2022
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- —
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Evercore
Sector context · Energy
- Comparable deals
- 40 in the prior 24 months
- Premium
- 15.0% vs. 29.9% sector median
- EV / Adj. EBITDA
- Sector median 12.8x
- Break fee
- Sector median 2.6%
Timeline
- AnnouncedOct 17, 2022
- Tender offerOct 24, 2022
- ClosedNov 23, 2022
Valuation · fairness opinions
Discounted cash flow$44.35$80.52
Discounted cash flow$47.90$67.56
Discounted cash flow$58.33$80.12
Discounted cash flow$43.24$55.24
Discounted cash flow$58.27$73.17
Implied value per Continental Resources, Inc share by analysis, from Evercore.