Antares terminates sale

Antares Energy has declared it will terminate an expected asset sale announced last year. The agreement, which would have granted the company US$300m in cash for all its Permian Basin assets, was expected to be completed this month, so news of its sudden termination is a surprise. Although the market has rushed to sell the stock - it fell 20% this morning - it may pay be to be patient rather than rash. The sale wasn't fully valued by the market and today's fall is likely to be an overreaction.  Our initial buy case back in Antares Energy: Shale...

Antares Energy has declared it will terminate an expected asset sale announced last year. The agreement, which would have granted the company US$300m in cash for all its Permian Basin assets, was expected to be completed this month, so news of its sudden termination is a surprise.

Although the market has rushed to sell the stock - it fell 20% this morning - it may pay be to be patient rather than rash. The sale wasn't fully valued by the market and today's fall is likely to be an overreaction. 

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