Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Why Continental Resources Stock Is Rising Today

Published 14/06/2022, 15:27
© Reuters.  Why Continental Resources Stock Is Rising Today
CONG
-
CLR
-

Continental Resources Inc (NYSE: CLR) shares are trading higher Tuesday after the company announced the receipt of a "take private" proposal from the Hamm family.

Harold G. Hamm sent a non-binding proposal letter on behalf of himself, the Harold G. Hamm Trust and certain trusts established for the benefit of his family members to acquire all outstanding shares of the company for $70 per share in cash.

Continental noted that it hasn't had an opportunity to carefully review and evaluate the proposal or make any decisions. Continental's board intends to establish a special committee consisting of independent directors to consider the proposal.

See Also: Morning Brief: Top Financial Stories Dominating on Tuesday, June 14

CLR Price Action: Continental Resources has traded between $73.54 and $31.40 over a 52-week period.

The stock was up 15.4% at $74.40 at press time, according to data from Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.