BREAKING NEWS

BREAKING NEWS

Chesapeake Energy to buy WildHorse Resource Development for $4 billion

Now Reading :

Chesapeake Energy to buy WildHorse Resource Development for $4 billion

Text size Aa Aa

(Reuters) - Oil and gas producer Chesapeake Energy Corp <CHK.N> is buying smaller firm WildHorse Resource Development Corp <WRD.N> in a deal valued at nearly $4 billion (3.1 billion pounds), it said on Tuesday, as it looks to strengthen its operations in Southeast Texas.

Oklahama-based Chesapeake said each WildHorse shareholder will get either 5.989 shares of Chesapeake common stock, or a combination of 5.336 shares of Chesapeake stock and $3 in cash, for each share they hold.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.