Kodiak Oil & Gas Corp. (0.8%) (KOG)($13.57 - NYSE) is an exploration and production company with reserves and operations concentrated in the Williston Basin of North Dakota. On July 13, 2014, the company entered into an all-stock merger agreement with competitor Whiting Petroleum Corp, valuing the company at $6 billion. The consideration is 0.177 shares of Whiting stock for each share of Kodiak Oil & Gas. The transaction is expected to close in the fourth quarter of 2014 after receiving shareholder approvals.
From Mario Gabelli (Trades, Portfolio)’s ABC Fund Q3 2014 Commentary.
