Market Chatter: Magnolia Oil & Gas Outbid Citadel for WildFire Acquisition

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Market Chatter: Magnolia Oil & Gas Outbid Citadel for WildFire Acquisition

MT Newswires Live09-04 21:59

Magnolia Oil & Gas (MGY) had outbid hedge fund Citadel in its acquisition of oil and gas company WildFire Energy in July, Reuters reported Friday.

The bid for WildFire reveals a strategy by Citadel to acquire US oil production assets as part of an expansion of its physical asset holdings, the report said, citing five people familiar with the matter.

Citadel declined to comment when asked by MT Newswires, while Magnolia Oil & Gas and WildFire didn't immediately respond to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 26.79, Change: -0.43, Percent Change: -1.58

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