jumped 17% Monday after a published report said a unit of Australia's Woodside Petroleum wants to buy the company for around $883 million.
Following the report, which appeared on
, shares of Energy Partners surged $3.10 to $21.50. The stock was the biggest percentage gainer on the
New York Stock Exchange
Woodside is offering Energy Partners $23 a share, about 25% above the stock's closing price Friday,
reported. Woodside might be willing to lift its bid to $24, according to the report.
However, Woodside said its proposal would require Energy Partners to call off its plan to acquire
for roughly $1.4 billion, the report indicated.
Stone was rising 47 cents, or 1%, to $48.06.