Quicksilver Resources Inc permitted its top shareholder, the Darden family, to engage in discussions with the gas-focused firm's second-largest stakeholder regarding a potential buy-out of the company. The Darden family, which values the Fort Worth, Texas-based company in excess of $16 a share, was seeking to talk with hedge fund SPO Partners, which owns about 15 percent of Quicksilver, regarding a deal. "The sole purpose of such communications shall be to facilitate the submission to the Transaction Committee of the Company's Board of Directors of a non-binding indication of interest regarding a potential acquisition of the company," Quicksilver Resources said in a regulatory filing.
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