Range Resources To Buy Memorial Resource In Deal Worth $4.4B

Reuters

May 16 (Reuters) - Oil and gas producer Range Resources Corp said it would buy Memorial Resource Development Corp in an all-stock deal valued at $4.4 billion, including $1.1 billion in debt.

Memorial Resource's shareholders will receive 0.375 of Range Resource's share for each share they hold, the companies said on Monday.

The deal, valued at $15.75 per share, represents a 17 percent premium to Memorial Resource's Friday close.

(Reporting by Anet Josline Pinto in Bengaluru; Editing by Sayantani Ghosh)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Sales Manager - Safety Relief Valves
Expertise: Business Development|Sales
Location: Houston, TX
 
United States Odessa: Service Manager
Expertise: Engineering Manager
Location: Odessa, TX
 
United States Conroe: Product Champion
Expertise: Business Development|Marketing|Sales
Location: Conroe, TX
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours