Tamboran Resources Stock Soars 11% Pre-Market – Find Out More On Falcon Oil & Gas Acquisition
Synopsis
Under the terms, Falcon shareholders will receive approximately 6.5 million shares of Tamboran NYSE common stock and a cash component of $23.7 million.
Tamboran Resources Corp. (TBN) is set to acquire Falcon Oil & Gas through a deal that consolidates nearly 2.9 million net prospective acres in Australia’s Beetaloo Basin.
The transaction, which has received unanimous backing from both boards, will see Tamboran take over Falcon’s subsidiaries in exchange for cash and stock.
Under the terms, Falcon shareholders will receive approximately 6.5 million shares of Tamboran NYSE common stock and a cash component of $23.7 million. This values Falcon’s assets at around C$239 million ($172 million), offering a 19.7% premium over Falcon’s closing price on the TSX (Toronto Stock Exchange) on September 29.
Tamboran Resources' stock traded over 11% higher in Tuesday’s premarket.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.