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Thursday, March 17, 2011

Darden family drops bid for Quicksilver Resources

Quicksilver Resources Inc's top shareholder, the Darden family, dropped its $2.73 billion bid, five months after it showed an interest to take the oil and gas company private. The shareholder group, which owns about 28 percent of Quicksilver, said the company's current financial position and management were a better bet than taking it private. The company's shares, which largely remained flat since the initial offer from Darden, fell 8 percent to $13.37 in pre-market trading Thursday.

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