7 June 2018substantial holder notice● Neutral
JPMORGAN CHASE & CO reported a CONCHO RESOURCES INC shareholding of 3,577,354 shares (2.30% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 June 2018business combination● NeutralMajor
Amendment No. 2 to the registration statement (June 4, 2018) fills in the blanks: both Concho and RSP special meetings are set for July 17, 2018 at 10 a.m. Central, with mailing around June 12. The letter puts the merger consideration at about $7.0 billion in total based on the May 31, 2018 Concho price (versus about $50.24 per RSP share at the March 27 price). Concho holders of record on June 1 vote on the share issuance, which is required for the merger to close; abstentions count as votes against.
23 May 2018business combination● Neutral
Concho filed Amendment No. 1 to its RSP merger registration statement on May 23, 2018. It sets a June 1, 2018 record date for voting, but the special meeting dates and times are still blank; the 0.320 exchange ratio, the unanimous board recommendations and the need for Concho holders to approve the share issuance are unchanged.
2 May 2018quarterly activities report● Neutral
CONCHO RESOURCES INC reported quarterly revenue of $945.0 million and net income of $137.0 million for the period ended 2018-06-30.
1 May 2018quarterly activities report● Neutral
CONCHO RESOURCES INC reported quarterly revenue of $945.0 million and net income of $137.0 million for the period ended 2018-06-30.
30 Apr 2018business combination▲ GoodMajor
The US Federal Trade Commission granted early termination of the antitrust waiting period on April 27, 2018 for Concho's planned purchase of RSP Permian. This clears the antitrust step in the merger; completion is still expected in the third quarter of 2018 and still needs both companies' shareholder approvals and other customary conditions.
20 Apr 2018business combination● NeutralMajor
Concho filed the registration statement (Form S-4) for the RSP merger on April 19, 2018, registering up to 51,015,727 Concho shares for RSP holders at 0.320 per RSP share, based on 159,424,148 RSP shares outstanding. The meeting dates are still blank, and both boards unanimously recommend the deal. Concho shareholders will vote on the share issuance, and the merger cannot close without that vote. At Concho's March 27 closing price the offer was worth about $50.24 per RSP share.
5 Apr 2018agm notice● Neutral
CONCHO RESOURCES INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
28 Mar 2018business combination● Neutral
On March 28, 2018 Concho and RSP issued a joint press release and Concho gave an investor presentation on the RSP merger agreement signed the day before. The visible text carries only the announcement and legal boilerplate; the press release and presentation figures sit in exhibits that are not shown here.
28 Mar 2018business combination● NeutralMajor
On March 27, 2018 Concho agreed to buy RSP Permian in an all-stock merger: each RSP share converts into 0.320 Concho shares. It needs approval from both companies' shareholders and antitrust clearance, and either side can walk away if it has not closed by Oct 31, 2018; break fees are $350 million (payable by Concho) or $250 million (payable by RSP) in specified cases. Existing Concho holders would be diluted by the new shares issued to RSP holders (inference from the share exchange).
20 Feb 2018quarterly activities report● Neutral
CONCHO RESOURCES INC reported quarterly revenue of $947.0 million and net income of $835.0 million for the period ended 2018-03-31.
14 Feb 2018substantial holder notice● Neutral
Capital Research Global Investors ** reported a CONCHO RESOURCES INC shareholding of 14,708,995 shares (9.80% of votes) in a periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
Capital World Investors ** reported a CONCHO RESOURCES INC shareholding of 11,972,500 shares (8.00% of votes) in a periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
The Growth Fund of America reported a CONCHO RESOURCES INC shareholding of 10,813,819 shares (7.20% of votes) in a periodic institutional filing.
9 Feb 2018substantial holder notice● Neutral
The Vanguard Group reported a CONCHO RESOURCES INC shareholding of 15,407,240 shares (10.36% of votes) in a periodic institutional filing.
8 Feb 2018substantial holder notice● Neutral
BlackRock, Inc reported a CONCHO RESOURCES INC shareholding of 9,749,807 shares (6.60% of votes) in a periodic institutional filing.
8 Feb 2018director interest notice● Neutral
Travis Counts became a CONCHO RESOURCES INC SVP, Gen Counsel and Corp Sec and company insider (initial ownership filing).
8 Feb 2018director interest notice● Neutral
Lee Price Moncrief became a CONCHO RESOURCES INC SVP of Finance and Strategy and company insider (initial ownership filing).
8 Feb 2018director interest notice● Neutral
CONCHO RESOURCES INC Exec VP & Chief Operating Off E Joseph Wright sold 83,759 shares.
8 Feb 2018director interest notice● Neutral
CONCHO RESOURCES INC Chairman and CEO Timothy A Leach sold 40,000 shares.
8 Feb 2018director interest notice● Neutral
Travis Counts became a CONCHO RESOURCES INC SVP, Gen Counsel and Corp Sec and company insider (initial ownership filing).
8 Feb 2018director interest notice● Neutral
Lee Price Moncrief became a CONCHO RESOURCES INC SVP of Finance and Strategy and company insider (initial ownership filing).
9 Jan 2018substantial holder notice● Neutral
JPMORGAN CHASE & CO disclosed a new substantial CONCHO RESOURCES INC shareholding (5.00% of votes).
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC insider William H Easter III received 1,324 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC insider Tucker S Bridwell received 1,324 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC Exec VP & Chief Operating Off E Joseph Wright acquired 65,754 shares and disposed of 31,356 in a set of related equity transactions.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC insider Gary A Merriman received 1,324 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC insider Susan J Helms received 1,324 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC insider Steven L Beal acquired 1,324 shares and disposed of 850 in a set of related equity transactions.
4 Jan 2018director interest notice● Neutral
CONCHO RESOURCES INC President and CFO Jack F Harper acquired 60,502 shares and disposed of 22,518 in a set of related equity transactions.