SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Dealmakers

The Buyside:
Disney, Warner Bros. Seek Next-Gen YouTubes

Traditional Hollywood studios such as Disney and Warner Bros. are seeking next-generation YouTube content providers

The Buyside

Activist Investors Dig Into Mid Market
Spurred on by the high-profile success of Carl Icahn and others, a growing crop of firms is looking further downstream

Today’s Transactions:
Sinochem Buys Stake in Wolfcamp Shale Play

Sinochem paid $1.7B for 40 percent of Pioneer Natural Resources’ interest in the area

Sinochem Petroleum USA LLC will buy 40 percent of Pioneer Natural Resources Co.’s (NYSE: PXD) interest in the Wolfcamp Shale play for $1.7 billion.

Oil exploration and production company Pioneer, headquartered in Irving, Texas, leases 207,000 acres in the southern portion of the Wolfcamp Shale play. It will retain the remaining 60 percent of the interests.

At closing, Sinochem will pay Pioneer $500 million in cash and will pay the remaining $1.2 billion by carrying a portion of Pioneer’s share of future drilling and facilities costs.

Beijing-based Sinochem is an energy company that explores for and refines oil.

Bank of America Merrill Lynch was financial adviser, and Vinson & Elkins was legal counsel to Pioneer on the deal. Mayer Brown LLP was Sinochem's legal counsel.

 

For more information on related topics, visit the following: