Paul Hastings Represents Vanguard Natural Resources, LLC in unit-for-unit acquisition of Eagle Rock Energy Partners, L.P.
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
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