Chesapeake Energy Corp Purchase WildHorse Resource Development

Chesapeake to buy Houston energy co. focused on Eagle Ford in $4B deal

Oklahoma City-based Chesapeake Energy Corp. (NYSE: CHK) will buy Houston-based WildHorse Resource Development Corp. (NYSE: WRD) in a cash-and-stock deal valued at nearly $3.98 billion, including the assumption of debt.

WildHorse went public less than two years ago and has since become one of the top companies in the Eagle Ford Shale.

The deal is expected to close in the first half of 2019, according to an Oct. 30 press release. WildHorse shareholders can elect to receive either 5.989 shares of Chesapeake common stock or a combination of 5.336 shares of CHK and $3 in cash for each share of WRD they own. Chesapeake shareholders are expected to own about 55 percent of the combined company, and WildHorse shareholders will own the other approximately 45 percent.

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