KOG As A Takeover Target -- Idle Chatter, Again
The Wall Street Journal is reporting:
KOG, long speculated to be an acquisition target, hired bankers last year
to help it field interest from potential suitors, according to people
familiar with the matter.
Talks with those suitors have largely fizzled without a deal though Kodiak is still working with the banks, said the people.
Some potential suitors decided Kodiak, which has a market
capitalization of about $2.5 billion, is fully valued by the stock
market, which could make the company a pricey acquisition, the people
said. Factoring in the company's debt and accounting for some premium to
its current share price, Kodiak would represent around a $4 billion
ticket for an acquirer.
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