September 29, 2014 / 1:18 PM / 3 years ago

BUZZ-Athlon Energy to open at record high after Encana's buyout offer

1 Min Read

** Athlon's shares up 24.4 pct at $58.13 premarket, slightly lower than Encana's offer of $58.50

** Athlon's shares poised to open at record high, topping the $51.55 hit in July

** Encana's offer worth $5.93 billion in cash

** Offer is also at a big premium to Athlon's intrinsic valuation of $37.64 per share, according to StarMine

** Through Friday's close, the stock had more than doubled from its IPO price of $20 in August 2013

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