Newfield to acquire bankrupt TXCO Resources

摘要

Newfield Exploration Co., Houston, (NYSE: NFX) plans to acquire all of the assets of San Antonio-based TXCO Resources Inc. (Nasdaq: TXCO) for $223 million in cash via court auction.TXCO filed for protection under Chap-ter 11 in the U.S.Bankruptcy Court for the western district of Texas in May The Newfield offer is subject to higher and better offers, due by Jan. 6. There is a 3% break-up fee to Newfield.