NEW YORK, Jan. 23 /PRNewswire/ -- Encore Acquisition Co. will replace McDATA Corp. (NASD: MCDTA) in the S&P MidCap 400 index after the close of trading on a date to be announced. McDATA is being acquired by Brocade Communications Systems Inc. (NASD: BRCD) in a deal that is still pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Encore engages in the acquisition, development, exploration, and production of onshore oil and natural gas reserves. Headquartered in Fort Worth, TX, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Oil & Gas Exploration & Production Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Encore Acquisition Energy Oil & Gas Exploration
& Production
DELETED McDATA Information Technology Computer Storage &
Peripherals
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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