Denbury/Penn Virginia Merger Aborted – PV Shareholder Resistance

March 22, 2019March 22, 2019

Penn Virginia, an oil and gas driller headquartered in Radnor, PA (near Philadelphia) announced last October it had found someone to buy the company--Denbury Resources (see Penn Virginia Finally Sells Itself, Denbury Buys for $1.7 Billion). As of a few weeks ago both companies filed proxy statements with the Securities and Exchange Commission to announce a final merger vote set for April 17. That's now off--because some Penn Virginia shareholders got cold feet.

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