$26 Billion Oil Mega-Merger: Diamondback Energy Acquiring Rival Endeavor

  • 📰 Forbes
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 53%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

I'm a New Jersey-based Senior Reporter on our news desk. I graduated in 2021 from Duke University, where I majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper. Send tips at dsaul@forbes.com.

Monday it will buy its privately held competitor Endeavor Energy in an agreement valuing the latter at roughly $26 billion, the latest massive energy deal amid an otherwise quiet time for dealmaking.Diamondback’s offer of roughly $17.8 billion worth of its publicly traded stock at Friday’s closing share price and $8 billion in cash will result in a newly formed company owned about 60.5% by existing Diamondback shareholders and 39.5% by Endeavor shareholders, according to the companies.

The boom in energy mergers and acquisitions in energy comes during a muted stretch for the space: Last year’s $3.2 trillion in M&A activity made 2023 the quietest year for M&A since 2013, a massive 47% decline from 2021’s record $6 trillion in M&A transactions.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 394. in BR

Brasil Últimas Notícias, Brasil Manchetes