Venoco Chief Proposes Taking Firm Private

摘要

Timothy Marquez, the chairman and chief executive of California-focused producer Venoco, has offered to take the company private in a deal valuing the firm at $770 million. Marquez already owns roughly 50.3% of Venoco’s 61.6 million outstanding shares and the company said he has sent the board of directors a nonbinding cash proposal to acquire the rest for $12.50 apiece. The shares trade on the New York Stock Exchange.