Magnolia Oil & Gas Corporation (NYSE: MGY) (Magnolia) has announced that the Company has entered into a definitive purchase agreement to acquire WildFire Intermediate Holdings, LLC (WildFire) for approximately US$4.06 billion, inclusive of WildFire’s debt and subject to customary purchase price adjustments. Magnolia obtained committed financing from JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., and Wells Fargo Bank, N.A. in connection with this transaction and has amended and increased the Company’s secured credit facility to a US$2 billion borrowing base and with elected commitments of US$1.75 billion contingent upon closing the transaction.
Latham & Watkins LLP advised the financing sources on the committed financing and credit facility amendment, with a deal team led by Austin/Houston partner David Miller, Houston partner Trevor Wommack, and Austin partner Sam Rettew, with associates Govin Kaggal and Joanna Zhao.
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