NEW YORK, NY / ACCESSWIRE / October 30, 2018 / Shares of Tesla were in the green on Monday. The company was a contributing factor to the market bouncing back last week when the electric vehicle maker announced solid third quarter results. Shares of Denbury Resources saw a big descent yesterday on news that the company will be buying another fellow oil producer, Penn Virginia Corporation.
MER Initiates Coverage on:
Denbury Resources Inc.
Tesla, Inc. shares closed up 1.19% on Monday with a little over 14 million shares traded. The company's CEO Elon Musk was at it again on Twitter, tweeting, "Deleted my Tesla titles last week to see what would happen." Musk is supposed to relinquish
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Denbury Resources Inc. was down 23.68% yesterday on a little over 39 million shares. The company saw its shares sink after it was announced that the company has agreed to buy fellow oil producer Penn Virginia Corporation in a cash-and-stock deal. The two will be combining in a $1.7 billion transaction, which includes the assumption of debt. Denbury will issue up to 191.6 million shares and pay $400 million in cash to acquire the producer. Chris Kendall, Denbury’s President
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