Rigrodsky & Long, P.A. Investigates EXCO
Resources, Inc. Buyout Proposal
November 01, 2010 01:16 PM Eastern Daylight Time
WILMINGTON, Del.--(EON: Enhanced Online News)--Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of EXCO Resources, Inc. (“EXCO” or the “Company”) (NYSE:
XCO) concerning the Company’s receipt of a proposal from EXCO’s Chairman and CEO, Douglas H. Miller, to
acquire the remainder of the Company he does not already own in a transaction valued at approximately $4.36
billion (the “Proposal”). Click here to learn how to join the action:
The investigation concerns whether EXCO’s board of directors is adequately shopping the Company and working
to obtain the best price possible for EXCO’s shareholders. The Proposal contemplates the acquisition of all of the
outstanding shares of common stock of EXCO not currently owned by Mr. Miller for $20.50 per share in cash. Mr.
Miller already owns approximately 2.15% of the Company’s outstanding shares. In addition, Mr. Miller’s Proposal
letter to EXCO’s board of directors indicated he has preliminarily discussed this Proposal with Oaktree Capital
Management, L.P. (“Oaktree”), on behalf of its funds and accounts under management, Ares Management LLC
(“Ares”), on behalf of one or more of its funds under management, and Boone Pickens, and each has expressed an
interest in pursuing the acquisition with him. Oaktree, Ares and Mr. Pickens already collectively own approximately
27.46% of the Company’s outstanding shares.
If you own the common stock of EXCO and purchased your shares before October 29, 2010, if you have
information or would like to learn more about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth
D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N.
Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation,
including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and
federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Seth D. Rigrodsky, Esquire
Noah R. Wortman, Case Development Director