Diamondback Energy, Inc. Recommends that Stockholders Reject Below-Market “Mini-Tender” Offer by TRC Capital Investment Corporation
Diamondback is not affiliated or associated in any way with
Diamondback recommends that stockholders reject this unsolicited offer and not tender their shares of Diamondback common stock in response to the TRC Capital Offer for the reasons described below.
The price per share contemplated by the TRC Capital Offer is below the current market value for shares of Diamondback common stock. In addition, TRC Capital Offer is subject to numerous conditions, including, among others, TRC Capital’s ability to obtain financing, there being no decrease in the market price of Diamondback common stock or any decline in either the Dow Jones Industrial Average or the Standard and Poor's Composite Index of 500 Industrial Companies or the specified Nasdaq and certain other market indices in excess of 10% since
Diamondback’s stockholders should obtain current market quotations for their shares of Diamondback common stock, consult with their broker or financial advisor and exercise caution with respect to the TRC Capital Offer. Diamondback recommends that Diamondback’s stockholders who have not yet responded to the TRC Capital Offer take no action with respect to the TRC Capital Offer. Diamondback’s stockholders who have already tendered their shares of Diamondback common stock may withdraw them at any time prior to
Diamondback encourages brokers and dealers, as well as other market participants, to review the
Diamondback requests that a copy of this press release be included with all distributions of materials relating to the TRC Capital Offer for
Diamondback is an independent oil and natural gas company headquartered in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than historical facts, that address activities that Diamondback assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the management of Diamondback. Information concerning these risks and other factors can be found in Diamondback’s filings with the
Source: Diamondback Energy, Inc.