Forestar Group Buys Credo Petroleum; Shares Flat But Near 52-Week Highs on Final Day of Trade


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Shares of Credo Petroleum Corp. ( CRED ) are flat at $14.50, but still trading near 52-week highs, after Forestar Group completed its previously announced acquisition.

With the completion of the merger, CRED will become a wholly owned subsidiary of Forestar and its stock will cease trading on the NASDAQ Global Market at market close today. Under the terms of the merger agreement, the company's stockholders of record will receive $14.50 per share in cash.

CRED trades in a 52-week range of $7.14 - $14.55. Shares have increased 73% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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