HOUSTON -- Paul Hastings LLP, a leading global law firm, announced today that it represented Vanguard Natural Resources, LLC (NASDAQ: VNR) (“Vanguard”) in the negotiation of a definitive Agreement and Plan of Merger to acquire Eagle Rock Energy Partners, L.P. (NASDAQ: EROC) (“Eagle Rock”), in exchange for common units representing limited liability company interests in Vanguard, implying a transaction value of approximately $614 million, including the assumption of Eagle Rock’s existing debt.
The agreement provides that a wholly owned subsidiary of Vanguard will merge with and into Eagle Rock, with Eagle Rock surviving the merger. As a result of the transaction, Eagle Rock will become wholly owned subsidiary of Vanguard. The general partner interest of Eagle Rock is wholly owned by Eagle Rock and will remain outstanding following the merger. The transaction is subject to customary closing conditions, including a vote of the unitholders of each of Vanguard and Eagle Rock.
Energy M&A partner Jimmy Vallee and MLP Capital Markets partner Doug Getten led the Paul Hastings team, which also included Energy M&A associates Kim Hicks, Will Mabry and Kelly Padgett, MLP Capital Markets associate Matthew Hendrix, MLP Tax partner Greg Nelson and Antitrust partner Scott Hataway.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.