An investor group consisting of KKR (NYSE:KKR), Natural Gas Partners, Crestview Partners and Itochu Corporation, together comprising "the Investor Group," announced the signing of a definitive agreement to acquire Samson Investment Company, one of the largest private exploration and production companies in the United States, for $7.2 billion.
Under the terms of the agreement, the Investor Group will acquire all of Samson's assets with the exception of its onshore Gulf Coast and offshore deep-water Gulf of Mexico assets, which will continue to be owned by the Schusterman family.
As part of the transaction, the Investor Group has committed to keep the company's headquarters in Tulsa, Oklahoma, where the Company and its employees have deep ties to the community in which they work and operate.
Upon completing the sale, David Adams will be named CEO of Samson and the company will be renamed Samson Resources. The agreement is subject to regulatory approval and customary closing conditions and is expected to be completed by the end of Q4.
KKR & Co (NYSE:KKR) has potential upside of 44.8% based on a current price of $11.48 and an average consensus analyst price target of $1
