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Encana plans to buy Athlon

Major oil and gas player Encana Corp. plans to acquire Texas-based shale-oil producer Athlon Energy, giving the corporation access to oil and natural gas-rich Permian Basin, according to a Calgary Herald article.

The $7.1 billion dollar acquisition deal, which was announced on Monday, September 29, includes a cash payout of close to $6 billion and the assumption of more than $1 billion of Athlon’s debt. Encana believes the purchase will add an equivalent of 30,000 barrels of oils per day, and will also make it possible for the company to produce 250,000 barrels of oil equivalent per day of production starting 2017.

Acquisitions such as this are designed to keep your business ahead of the competition. If you plan on bolstering your business in Cedar Rapids through acquisitions, a lawyer at Arenson Law Group, PC, is willing to give you sound legal advice and guidance. To learn more about how we can be of help, call us at (319) 363-8199 today.


Google, Apple, Intel and Adobe to resume mediation in hiring lawsuit

Silicon Valley giants Google, Apple, Intel, and Adobe have resumed talks with workers in a class action lawsuit over the companies’ hiring practices, Reuters reported on Wednesday, September 3.

Plaintiffs accuse the companies of agreeing to refrain from hiring each other’s valued engineers. Tech workers stated that the alleged agreement has decreased their ability to seek other employment opportunities, thereby limiting their growth and potential to earn.

Last month, a federal judge in California rejected the companies’ move to settle the allegation for $324.5 million, saying that the complainants should be given greater compensation.

A court date to hear the matter is set for September 10.

Business litigation may tremendously affect your livelihood. Therefore, it is important to seek attorneys who are well-versed in the intricacies of business and corporate law. If you need one in Cedar Rapids, contact an attorney at Arenson Law Group, PC, by calling (319) 363-8199 today.


Roche to acquire Santaris Pharma for $450 million

Swiss pharmaceutical giant Roche says it plans to buy Denmark-based biotech company Santaris Pharma for up to $450 million, Reuters reported on August 4.

According to the report, Roche announced it would pay Santaris Pharma an initial amount of $200 million, and an additional $250 million upon reaching certain milestones. Roche hopes to acquire Santaris Pharma’s new class of drugs that can silence mRNA’s, which the company believes is a breakthrough in treating difficult to cure diseases.

Santaris Pharma is one of the many pharmaceutical company recently acquired by Roche. Last month, U.S.-based Seragon Pharmaceuticals Inc. was bought by Roche for $1.725 billion.

Acquisitions like this help you establish a stronger market foothold for your business. Let a qualified and seasoned Cedar Rapids business lawyer at Arenson Law Group, PC, represent your interests during acquisitions. To learn more about how we can be of help, call our offices at (319) 363-8199 today.


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