Chesapeake Considers Acquisition of Rival Southwestern Energy

📆 18/10/2023 5:17 am
📰 BNNBloomberg

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Chesapeake Energy Corp. is considering an acquisition of rival natural gas producer Southwestern Energy Co., according to people familiar with the matter.

Chesapeake has held on-and-off discussions with Southwestern for months about a potential combination, said one of the people, who asked to not be identified because the matter isn’t public. No final decision has been made, and Chesapeake could opt against pursuing a deal, the people said.

Southwestern rose 8.3% to close at $7.32 in New York trading Tuesday, giving it a market value of about $8.1 billion. Chesapeake rose 0.7% to $89.59, giving it a market value of about $12 billion.

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