Chesapeake Energy to buy WildHorse for $4 billion
WildHorse shareholders 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 held, under terms of the agreement.
The offer implies a 21 percent premium to WildHorse's closing price on Monday, while the stock-and-cash option represents a 24 percent premium. The deal includes WildHorse's net debt of $930 million. ■