Penn Virginia to evaluate strategic alternatives, including possible sale
Jul. 23, 2018 4:25 PM ET|About: Penn Virginia Corporation (PVAC)|By: Carl Surran, SA News Editor
Penn Virginia (NASDAQ:PVAC) says it plans to evaluate a range of strategic alternatives, including a potential sale of the company, a merger or other business combination, one or more strategic acquisitions, or other transactions; shares are halted.
During the evaluation process, PVAC says it will continue to execute its business plan and focus on 2018 goals of increasing production by 125%, spending within cash flow by Q4 and reaching target leverage ratio of 1.5x by year-end.