XOM - Southwestern Energy And Chesapeake Energy Near $17B Merger: Report | Benzinga
Southwestern Energy Co. (NYSE:SWN) and Chesapeake Energy Corp. (NASDAQ:CHK) are reportedly on the verge of a merger, creating a $17 billion entity. The outcome of this merger could result in one of the nation’s largest natural gas producers.
What Happened: The merger between these two energy powerhouses is expected to be finalized as early as next week, according to a report by The Wall Street Journal.
The combined valuation of the new entity is estimated to be around $17 billion, considering Southwestern’s market capitalization at approximately $7.6 billion and Chesapeake’s at $10.3 billion.
The announcement of the potential merger saw Southwestern’s stock rise by over 7%, while Chesapeake’s shares gained over 2%, on Friday.
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