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Oilfield services firms Keane Group, C&J Energy to merge: sources

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Oilfield services firms Keane Group, C&J Energy to merge: sources GlobeBusiness

Keane Group Inc and C&J Energy Services Inc are set to merge in an all-stock deal that will create a new U.S. oilfield services company worth around $1.5 billion, three people familiar with the matter said on Monday.

The transaction between Keane and C&J, which will be presented to investors as a merger of equals, is set to be unveiled later on Monday, the sources said, asking not to be identified ahead of the official announcement. Keane and C&J could not be reached for comment outside normal business hours.U.S.

Keane and C&J are both headquartered in Houston. They have market capitalizations of $733 million and $708 million, respectively.

 

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