The privately held Pluspetrol Resources Corporation is to pay $14.50 per share to acquire the Nasdaq-listed company.
Oklahoma-based WPX Energy, which owns 69% of Apco’s equity, is supporting the deal and said it expected to net $294 million from the sale.
Apco director Keith Bailey said the deal was “a meaningful way for all shareholders to monetise their shares with a party that is financially strong”.
The
