Kirkland Advises Penn Virginia on Acquiring Lonestar
Kirkland & Ellis counseled Penn Virginia Corp. (NASDAQ: PVAC) on its definitive merger agreement with Lonestar Resources US Inc. (OTCQX: LONE) under which Penn Virginia will acquire Lonestar in an all-stock transaction. Under the terms of the agreement, Lonestar shareholders will receive 0.51 shares of common stock of Penn Virginia for each share of common stock of Lonestar outstanding. The transaction is expected to close by the fourth quarter of 2021, subject to customary closing conditions, including the approval of Penn Virginia and Lonestar shareholders.
The Kirkland team was led by corporate partners Sean Wheeler, Debbie Yee and Enoch Varner; tax partner David Wheat; and debt finance partner Rachael Lichman.
