{"id":4647,"date":"2006-06-27T00:00:00","date_gmt":"2006-06-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"houston-exploration-rejects-hedge-funds","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/06\/2006\/houston-exploration-rejects-hedge-funds.html","title":{"rendered":"Houston Exploration rejects hedge funds"},"content":{"rendered":"<p>Houston Chronicle &#8211; Houston Exploration has rejected a hedge funds&#8217; offer to buy the company for $62 per share.<\/p>\n<p>  In a written statement to Jana Partners, which owns 13 percent of the company&#8217;s shares, Chairman and CEO William Hargett said the company has hired Lehman Brothers Inc. to consider alternatives  that could enhance shareholder value.<\/p>\n<p>  &#8220;We believe your proposal undervalues Houston Exploration&#8217;s portfolio of assets and opportunities,&#8221; he wrote.<\/p>\n<p>  Jana Partners has spent the several months hammering on the company to buy back more of its stock to boost the price or sell to a rival because Houston Exploration&#8217;s track record lags peer  companies that explore for oil and natural gas.<\/p>\n<p>  According to Hargett, Lehman Brothers will look into several options for Houston Exploration including repurchasing more shares, paying a special dividend, entering into strategic partnerships or  selling the company to a higher bidder than Jana Partners.<\/p>\n<p><a href=\"http:\/\/www.chron.com\/disp\/story.mpl\/business\/energy\/4004252.html\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Houston Chronicle &#8211; Houston Exploration has rejected a hedge funds&#8217; offer to buy the company for $62 per share. In a written statement to Jana Partners, which owns 13 percent of the company&#8217;s shares, Chairman and CEO William Hargett said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4647","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4647"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4647\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}