(FANG), QEP Resources, Inc. (NYSE:QEP) - Diamondback Joins Permian Basin Consolidation Wave With Double Acquisition Deals
QEP Resources Inc (NYSE: QEP), the company announced on Monday. What Happened: As a part of the $2.2 billion acquisition agreement, Diamondback will absorb QEP’s business along with the $1.6 billion debt that was outstanding on Sept. 30, 2020. The entire consideration of $2.2 billion will be paid in Diamondback’s stock. It will issue 0.05 Diamondback shares for each share of QEP. Based on Diamondback’s closing price on Friday last week, the deal puts an implied value of $2.29 for each QEP share. Diamondback is also buying all leasehold interests of oil exploration company Guidon Ope...
Source: benzinga.com