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DNR - Denbury Resources: No Acquisition Would Reasonably Happen Before Debt Restructuring
Denbury Resources Inc.
Denbury Resources (DNR) saw its stock price jump pre-market due to a fraudulent (per the CEO) press release from some party pretending to be Denbury and claiming that there was a $1.20 per share offer for the company. Denbury quickly shot down the press release.
Given that Denbury is nearing restructuring and has some debt trading at 3 cents on the dollar, it should have been pretty obvious to investors that the press release was a fake. I don't think there has ever been a case where an acquirer was willing