Welcome to our dedicated page for Mach Natural Resources news (Ticker: MNR), a resource for investors and traders seeking the latest updates and insights on Mach Natural Resources stock.
Mach Natural Resources LP (NYSE: MNR) is an independent upstream oil and gas partnership focused on acquiring, developing and producing oil, natural gas and NGL reserves. News coverage for MNR commonly centers on its financial and operating results, distribution declarations and significant acquisition activity across the Anadarko, Permian and San Juan Basins.
On this page, readers can follow press releases and other reports that discuss Mach’s quarterly results, including total net production, product mix between oil, natural gas and NGLs, realized prices and key cost metrics such as lease operating expense and gathering and processing expense per barrel of oil equivalent. Earnings-related news also typically includes information on net income or net loss, net cash provided by operating activities, total development costs and the partnership’s reinvestment rate.
Mach’s news flow also features announcements of quarterly cash distributions to common unitholders and updates to its outlook for future periods. The company has highlighted its focus on cash returns to unitholders and has provided guidance ranges for planned development capital and expected production volumes in its communications.
Another important category of news involves acquisitions and financing. Mach has announced transactions to acquire oil and gas assets in the Permian Basin and entities owning assets in the San Juan Basin, as well as bolt-on acquisitions and purchases of assets in Oklahoma, Kansas and Wyoming. Related releases describe purchase prices, consideration paid in cash and common units, and changes to the company’s credit facilities and borrowing base.
Investors and observers who follow MNR news can use this page to monitor how the partnership’s production profile, basin exposure, capital program, distributions and balance sheet evolve over time as described in its public announcements.
Monmouth Real Estate Investment Corporation has received an unsolicited acquisition proposal from Starwood Capital Group offering approximately $19.20 per share. This follows a prior agreement with Equity Commonwealth to acquire Monmouth for $19.00 per share.
Currently, Monmouth’s Board is assessing Starwood's proposal. The acquisition’s net cash consideration reflects a purchase price of $19.93 per share, less a termination fee to EQC of approximately $72 million. The decision is pending, as Monmouth aims to act in its shareholders' best interests.
Monmouth Real Estate Investment Corporation (MNR) announced the recognition of its strategic process regarding the merger with Equity Commonwealth (EQC) by Institutional Shareholder Services (ISS). Following extensive review, Monmouth's board believes this merger will enhance its position as an industrial REIT, leveraging its portfolio and expanding into new opportunities. ISS praised Monmouth's thorough bidding process, noting outreach to over 90 potential acquirors and competitive offers. Monmouth urges shareholders to vote 'FOR' the merger using the WHITE proxy card, emphasizing long-term value creation.
Monmouth Real Estate Investment Corporation (NYSE: MNR) urges stockholders to vote FOR the pending merger with Equity Commonwealth (NYSE: EQC). The merger promises a 26% valuation premium and represents a strategic move after a thorough review of alternatives with over 90 investors. The combined company aims to capitalize on favorable market trends in the industrial sector. The transaction is expected to close in the second half of 2021, pending stockholder approval on August 24, 2021. This merger will enhance liquidity and reduce costs, benefitting stockholders substantially.
Monmouth Real Estate Investment Corporation (NYSE:MNR) reported a net income of $17.3 million or $0.17 per diluted share for Q3 2021, down from $26.9 million or $0.27 per diluted share in Q3 2020. This marks a decrease of $9.6 million. Funds from Operations (FFO) decreased to $11.5 million or $0.12 per diluted share, while Adjusted Funds from Operations (AFFO) remained stable at $19.7 million. The decline in net income is mainly due to non-recurring costs of $8.7 million related to strategic alternatives and a merger process with Equity Commonwealth.
Monmouth Real Estate Investment Corporation (NYSE:MNR) has completed the acquisition of a 143,794 square foot industrial building in S. Burlington, VT, for $54.8 million. The property, net-leased to FedEx Ground Packaging System for 15 years, spans approximately 43.4 acres near Burlington International Airport. This acquisition marks Monmouth's first investment in Vermont and offers substantial future expansion potential due to its land-to-building ratio of over 13 times. Currently, Monmouth holds a diverse portfolio of 121 properties across 32 states with an occupancy rate of 99.7%.
Starwood Capital Group expressed disappointment over Monmouth Real Estate Investment Corp.'s rejection of its all-cash acquisition proposal. The firm claims its offer provides over $100 million more value to Monmouth shareholders compared to their existing merger agreement with Equity Commonwealth, with EQC's current stock price at $26.61. Starwood believes shareholders will be dissatisfied with the EQC transaction if approved by a two-thirds vote. Starwood is prepared to execute its fully financed offer to enhance shareholder value.
Monmouth Real Estate Investment Corporation (NYSE: MNR) reaffirmed its support for the merger with Equity Commonwealth (NYSE: EQC). The Board evaluated a competing offer from Starwood Capital Group, which proposed $18.88 to $19.51 per share, indicating that EQC's merger offers better long-term value. Factors favoring the EQC merger include access to $2.5 billion in cash, reduced debt obligations, and a stronger balance sheet. Monmouth stockholders will continue to receive dividends during the merger process and will benefit from tax-efficient share exchange.
Starwood Capital Group has made a revised proposal to acquire Monmouth Real Estate Investment Corporation for $19.51 per share, netting $18.88 after a $62.2 million termination fee to Equity Commonwealth. This enhanced offer, submitted on July 15, 2021, increases the previous bid of $18.70. Starwood emphasizes that its all-cash proposal provides more certainty and value than the existing merger agreement with EQC. The firm requests that Monmouth's Board declares this as a superior proposal and finalize the transaction promptly.
Monmouth Real Estate Investment Corporation (NYSE: MNR) announced an amended acquisition proposal from a private investment firm, increasing the offer to $18.88 per share. This is a rise of $0.18 from the previous proposal. If Monmouth terminates its merger agreement with Equity Commonwealth (EQC), a termination fee of approximately $62.2 million will apply. Monmouth's shares closed at $19.23 on July 16, 2021. The company is evaluating the proposal with its board and advisors and has not yet made a decision.
Monmouth Real Estate Investment Corporation (NYSE: MNR) announced receiving an unsolicited acquisition proposal from a large private investment firm. The firm proposes to acquire 100% of Monmouth's outstanding equity for net cash of approximately $18.70 per share. This is a reduction from the stated purchase price of $19.51 per share due to a termination fee to Equity Commonwealth (EQC) and a declared dividend. Monmouth's Board is evaluating this proposal while maintaining fiduciary duties. The company previously agreed to merge with EQC in an all-stock transaction valued at approximately $3.4 billion.
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