Parsley Energy Inc said on Monday it would buy smaller peer Jagged Peak Energy I...
) in an all-stock deal valued at $1.62 billion, adding acreage in the oil-rich Delaware shale basin.
The offer of 0.447 shares of Parsley Class A common stock values Jagged Peak at $7.59 per share, based on Parsley’s closing price on Friday. The offer represents a premium of 11.3% to Jagged Peak’s last close. Including Jagged Peak’s debt of about $625 million as of June 30, the deal is valued at $2.27 billion.
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