Hamm Reaches Deal To Buy CLR

JC Parets
October 17, 2022

In a busy morning for oil and gas deals, Continental Resources $CLR announced a merger agreement with the company founder and billionaire Harold Hamm.

Over the weekend, Hamm boosted his original offer from this summer to purchase the existing $4.3 billion worth of shares that he and his family do not already own for $74.28 per share.

On Friday, the executive vice-president of Operations, the CFO, and three directors filed a handful of Form 4s reporting purchases worth a combined $4 million in Enviva Inc $EVA.

These filings come on the heels of a variety of insider buying by both hedge funds and corporate insiders just last week.

Deerfield Asset Management’s James Flynn filed a 13G for Enhabit Inc $EHAB, revealing an initial stake of 5.74%.

Here’s The Hot List, with data through October 14, 2022:

In another Form 4, Director Akiva Katz reported a purchase worth roughly $4.3 million in Veris Residential $VRE.

In the options market, there was bullish options flow in Kraft Heinz Company $KHC and Occidental Petroleum $OXY.

Stay tuned. We'll be back Tuesday with more insider action.

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All Star Charts Team

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