Devon Energy Acquires Anderson Exploration for $7.2B

Devon Energy Corporation of Oklahoma City completed its acquisition of Anderson Exploration Ltd. of Calgary on October 13, 2001, pursuant to a cash tender offer to purchase Anderson for $40 per share, or approximately $5.3 billion in total equity. Devon will also assume approximately $1.9 billion of debt and other obligations of Anderson, making the enterprise value of the transaction $7.2 billion. Both companies are senior oil and natural gas producers engaged in related exploration, acquisition, development and production activities.

Acting for Devon were Grant Zawalsky, John Brussa, Steve Cohen, Steve Chetner, Shannon Gangl, John Wilmot, Ian Bock, Alicia Quesnel, Gina Ross and Jody Wivcharuk of Burnet, Duckworth & Palmer LLP.

Anderson was represented by Vance Milligan, Perry Spitznagel, Renée Ratke, Neil Stevenson, Cheryl Graden, Took Whiteley, Colin Perry, Christina Cook and Bruce Hibbard (M&A), Jim D’Andrea (employment), Doug Ast (pensions), Darcy Moch (tax), Don Greenfield (Investment Canada) and Jo’Anne Strekaf and Cam Chiasson (competition) of the Calgary office of Bennett Jones LLP.


Perry Spitznagel Grant A. Zawalsky Gina A. Ross Neil H. Stevenson Renée M. Ratke John A. Brussa Alicia K. Quesnel Took B.P.E. Whiteley Colin R. Perry Douglas A. Ast Jody L. Wivcharuk Shannon M. Gangl Jo'Anne Strekaf James A. D'Andrea Donald E. Greenfield Stephen J. Chetner John A. Wilmot Walter Waugh Bruce A. Hibbard C. Steven Cohen Cheryl L. Graden


Burnet, Duckworth & Palmer LLP Bennett Jones LLP