Alta Mesa Holdings, LP Announces Completion of Merger With Meridian Resource Corporation
May 13 2010 - 4:18PM
Alta Mesa Holdings, LP announced today the completion of its merger
with Meridian Resource Corporation. Approximately 67.6% of
Meridian's outstanding shares were voted in favor of the merger.
Under the terms of the merger agreement, Meridian's pre-closing
stockholders are entitled to receive $0.33 in cash for each share
of common stock that they owned immediately prior to the effective
time of the merger. Pre-closing stockholders who held shares
through a bank or broker will not have to take any action to have
their shares converted into cash, as such conversions will be
processed with the paying agent by the bank or broker. Letters of
transmittal allowing Meridian's pre-closing registered stockholders
of record to deliver their shares to the paying agent in exchange
for payment of the merger consideration will be distributed
shortly. With the closing of the transaction, The Meridian Resource
Corporation (TMR) stock will no longer trade on the NYSE and will
be delisted.
Alta Mesa Holdings, LP is a privately held oil and gas
exploration company and is located at 15415 Katy Freeway, Suite 800
in Houston Texas 77095. The main phone number is 281-530-0991.
Forward Looking Statements
Statements identified by the words "expects," "plans," and
certain of the other foregoing statements may be deemed
"forward-looking statements." Although Meridian believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties
regarding the transactions described that may cause actual future
activities and results to be materially different from those
suggested or described in this press release. Risks and
uncertainties regarding the proposed merger with Alta Mesa
Holdings, LP and the other transactions described include, but are
not limited to, the possibility that the closing of the merger does
not occur, either due to the failure of closing conditions,
including the approval of the shareholders of Meridian, rights of
the parties to terminate the merger agreement, or other reasons;
risks that the merger disrupts current plans and operations and the
potential difficulties in employee retention as a result of the
merger; the outcome of legal proceedings that have been, or may be,
initiated against Meridian related to the merger and the amount of
the costs, fees, expenses and charges related to the merger. Other
risks relating to Meridian are described in Meridian's documents
and reports, available from the U.S. Securities and Exchange
Commission, including the report filed on Form 10-K, as amended,
for the year ended December 31, 2009 and any updates to those
factors set forth in our subsequent Quarterly Reports on Form 10-Q,
including risks associated with our default under our credit
facility and other lending arrangements.
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CONTACT: The Meridian Resource Corporation
Lance L. Weaver
(281) 597-7125
lweaver@tmrx.com
www.tmrc.com
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