U.S. shale gas producer Diamondback Energy has announced its final merger agreement with Endeavor Energy Resources, LP, in a deal worth approximately US$26 billion. The acquisition will be carried out in a cash and stock manner, with the transaction value including net debt.
According to the announcement on Diamondback Energy’s official website, the transaction consideration will consist of approximately 117.3 million shares of Diamondback common stock and $8 billion in cash. The merger is expected to create a best-in-class Permian independent operator.
Upon completion of the merger, the company’s existing shareholders are anticipated to hold around 60.5% of the combined company’s shares, while Endeavor Energy Resources shareholders are expected to hold approximately 39.5% of the combined company’s shares.
This acquisition marks a significant milestone for both companies and is set to strengthen their positions in the industry.
The news of the merger has sparked interest in the energy sector and is expected to have a notable impact on the market.
The original article was sourced from Jiemian News and was published with a disclaimer from Oriental Fortune, stating that the content is intended for informational purposes and does not constitute investment advice. Readers are advised to proceed at their own risk.