March 28, 2018 / 10:20 AM / 4 months ago

BRIEF-Concho Resources To Acquire RSP Permian In All-Stock Transaction

March 28 (Reuters) - Concho Resources Inc:

* CONCHO RESOURCES INC. TO ACQUIRE RSP PERMIAN, INC. IN ALL-STOCK TRANSACTION

* CONCHO RESOURCES INC - DEAL FOR ALL-STOCK TRANSACTION VALUED AT APPROXIMATELY $9.5 BILLION

* CONCHO RESOURCES INC - ‍CONSIDERATION WILL CONSIST OF 0.320 SHARES OF CONCHO COMMON STOCK FOR EACH SHARE OF RSP COMMON STOCK​

* CONCHO RESOURCES INC - ‍TRANSACTION WAS UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF EACH COMPANY​

* CONCHO RESOURCES INC - SEES DEAL TO BE IMMEDIATELY ACCRETIVE TO KEY PER-SHARE METRICS

* CONCHO RESOURCES INC - ‍UPON CLOSING, CONCHO’S BOARD WILL BE EXPANDED TO 11 DIRECTORS, TO INCLUDE ONE INDEPENDENT MEMBER OF RSP BOARD​

* CONCHO RESOURCES INC - ‍AS PART OF DEAL, CO EXPECTS TO REALIZE OVER $60 MILLION IN ANNUAL CORPORATE LEVEL SAVINGS​

* CONCHO RESOURCES INC - ACQUISITION IS EXPECTED TO BE ACCRETIVE IN FIRST YEAR TO CONCHO’S KEY PER-SHARE METRICS

* CONCHO RESOURCES INC - DEAL WILL ADD ABOUT 92,000 NET ACRES THAT COMPLEMENT CONCHO’S EXISTING ACREAGE POSITION IN PERMIAN BASIN​

* CONCHO RESOURCES INC - CONSIDERATION TO EACH RSP SHAREHOLDER TO BE $50.24 PER SHARE

* CONCHO RESOURCES INC - ‍TRANSACTION ADDS 2.2 BILLION BOE OF RESOURCE POTENTIAL​

* CONCHO RESOURCES INC - ‍CONCHO SHAREHOLDERS WILL OWN ABOUT 74.5% OF COMBINED CO, AND RSP SHAREHOLDERS WILL OWN ABOUT 25.5%​

* CONCHO RESOURCES - TO ACQUIRE RSP IN AN ALL-STOCK TRANSACTION VALUED AT ABOUT $9.5 BILLION, INCLUSIVE OF RSP’S NET DEBT Source text for Eikon: Further company coverage:

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