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Chesapeake Energy to buy WildHorse for $4 billion

Staff Writer |
Chesapeake Energy agreed to buy Texas oil producer WildHorse Resource Development Corp in a nearly $4 billion cash-and-stock deal.

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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.

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