Mesa Seeks Buyers To Thwart Takeover

Mesa Inc. is asking that companies interested in buying or merging with the natural gas company submit proposals by late November, chairman Boone Pickens said in a letter to shareholders released Monday.

The letter outlines the steps the company has taken to try to increase value for shareholders as its management battles with a group of investors trying to oust Pickens.

Financial adviser Lehman Brothers Inc. has contacted more than 100 companies about buying all or parts of Mesa.

Mesa has alleged in a lawsuit that the investment group, led by former Pickens aide David Batchelder, illegally accumulated Mesa stock in secret, beginning late last year. The group includes investors Dennis Washington of Missoula and Marvin Davis of Los Angeles, who now own 9.4 percent of Mesa.