Corporate M&A

Värde Partners Makes Non-Binding Cash Offer to Take Lilis Energy Private

By Shriya Bhargava
January 13, 2020
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Alternative investment fund manager Värde Partners Inc. has made a non-binding offer to take Fort Worth-based Permian Basin operator Lilis Energy Inc. private. Värde currently holds approximately 23.6 million of the 91.7 million outstanding shares of Lilis Energy’s common stock and all of the Company’s outstanding preferred stock, and has offered to acquire the remaining common stock at US$0.25 per share in cash. In response to the offer, Lilis has stated that a special committee of its board of directors will evaluate the offer, as it also continues its process of evaluating other potential strategic alternatives with the assistance of its financial advisor, Barclays Capital. Värde’s offer, which is subject to obtaining customary financing and various other shareholder and investor approvals, will expire on February 17th.

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