Cross Border Resources, Inc. (XBOR) Authorizes Strategic Review of Company Operations
Cross Border Resources reported that the company’s board of directors has authorized a strategic review of the company’s operations, with a goal of maximizing shareholder value. Cross Border Resources has hired KeyBanc Capital Markets as a strategic advisor to assist the company in its review. The company did not initiate this review due to a buyout offer from an outside party. Cross Border Resources said that the strategic review was predicated on a belief that investors are undervaluing the company in the public market, and that the common stock of the company is trading at a price below the net…