Apco Agrees To Merge With Pluspetrol - Quick Facts

(RTTNews) - Apco Oil and Gas International Inc. (APAGF) on Friday said it has signed a definitive merger agreement with privately held Pluspetrol Resources Corporation, under which Apco shareholders will receive $14.50 in cash, for each Class A share and ordinary shares they own, in a transaction valued at $427 million.

The share price represents an 18 percent premium to Apco's closing share price of $12.30 on Oct. 1, and a 52 percent premium to the closing price on May 1, 2013.

Apco said it will file a proxy statement with the Securities and Exchange Commission and schedule a meeting for shareholders to approve the merger agreement.

Jefferies served as the exclusive financial advisor to Apco in connection with the transaction. Weil, Gotshal and Manges LLP acted as legal advisors to Apco.