Energy consolidations: Diamondback, Endeavor announce $26B deal
02/13/2024 00:31
Shares of Diamondback Energy (FANG) are climbing Monday morning following the announcement of a merger agreement with Endeavor Energy Resources, the latest acquisition deal to hit the energy sector. Diamondback plans to acquire Endeavor in an all-stock deal valued at $26 billion, the total deal valued at over $50 billion. The merger will make Diamondback one of the largest independent oil and gas producers in the Permian Basin. Yahoo Finance Senior Business Reporter Ines Ferré breaks down the details and analyst comments on consolidation plans sweeping energy producers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Shares of Diamondback Energy (FANG) are climbing Monday morning following the announcement of a merger agreement with Endeavor Energy Resources, the latest acquisition deal to hit the energy sector. Diamondback plans to acquire Endeavor in an all-stock deal valued at $26 billion, the total deal valued at over $50 billion.
The merger will make Diamondback one of the largest independent oil and gas producers in the Permian Basin.
Yahoo Finance Senior Business Reporter Ines Ferré breaks down the details and analyst comments on consolidation plans sweeping energy producers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.