Mergers & acquisitions.

• Position: Attitude at Altitude - Rentech Inc. and Royster-Clark Nitrogen Inc - Delta Petroleum Corp. and Castle Energy Corp. - Level 3 Communications Inc. and Structure LLC

Key recent Colorado mergers and acquisitions

DELTA PETROLEUM/CASTLE ENERGY

Denver-based Delta Petroleum Corp. has agreed to buy Pennsylvania-based Castle Energy Corp. in a stock swap that amounts to about $160 million. Castle Energy, King of Prussia, Pa., holds approximately $40 million in net cash and interests in 166 oil and gas wells in Western Pennsylvania. Delta's primary operations are on the Gulf Coast and in the Rocky Mountains.

LEVEL 3/INFOCROSSING

Level 3 Communications Inc. (Nasdaq: LVLT) has sold (i)Structure LLC, its Broomfield based IT infrastructure-management outsourcing subsidiary, to Infocrossing inc., a New Jersey rival, for $84.8 million, including $82.3 million in cash and $2.5 million in Infocrossing stock (Nasdaq: IFOX). (i)Structure generated $35 million in operating income in the first six months of 2005, Level 3 said in a statement, but tech-trade website NetworkWorld reported that Charles Miller III, chairman of Level 3's Information Services Group, said the (i)Structure unit was not considered a core business for Level 3, and the parent, also based in Broomfield, is currently engaged in a sell-off of its non-core businesses. (i)Structure employs 300 people and has operations in Omaha, Neb., and Tempe, Ariz., NetworkWorld reported. Infocrossing had about 550 employees before the purchase, which was to close in the fourth quarter.

RENTECH/ROYSTER-CLARK

Rentech Inc. (Amex: RTK), a Denver company that makes and licenses technology to convert coal and natural gas into liquid fuels and other chemicals, has obtained a commitment for $35 million in financing from M.A.G. Capital LLC and Pentagon Brenini Fund Ltd. to help fund Rentech's $50 million acquisition of Royster-Clark Nitrogen Inc. Royster-Clark owns and operates a 830-ton-per-day, natural gas-fed nitrogen fertilizer plant in East Dubuque, Ill., and Rentech plans to convert the plant to coal-fed gasification using Illinois coal. Rentech also plans to build a coal-to-liquids demonstration plant in Commerce City that will produce roughly 10 to 20 barrels per day of ultra-clean diesel fuel, aviation fuel and naptha from various demonstration coals. The $35 million is contingent on closing the purchase of Royster-Clark. M.A.G. Capital is a Los Angeles-based private equity fund; Pantagon Brenini is an offshore firm associated with M.A.G.

REQUISITE/CLICK COMMERCE

Requisite Technology Inc., a once-booming catalog software company in Westminster, was sold to rival Click...