EXCO Resources (XCO.N) Chief Executive Douglas Miller is considering a deal structure that would leave part of his company public because he is having difficulty raising financing for a deal to take the entire company private, a source familiar with the matter told Reuters on Friday. Last November, Miller teamed up with investors, including oilman T. Boone Pickens, and bid about $4.36 billion to take the company off the public markets. The group offered $20.50 per share to purchase the remaining shares of the company. Miller is now under pressure to present a final bid to the board's special committee as the process has dragged on. The source also told Reuters that the process should end within a few weeks. The source spoke on a condition of anonymity because the information was not public.
EXCO Resources, Inc.(EXCO) is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore North American oil and natural gas properties. Shares of XCO fell by 1.73% or $-0.33/share to $18.78. In the past year, the shares have traded as low as $13.25 and as high as $21.04. On average, 2055810 shares of XCO exchange hands on a given day and today's volume is recorded at 2067610.
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