October 30, 2018 / 11:19 AM / 16 days ago

Chesapeake Energy to buy WildHorse Resource Development for $4 bln

Oct 30 (Reuters) - Oil and gas producer Chesapeake Energy Corp is buying smaller firm WildHorse Resource Development Corp in a deal valued at nearly $4 billion, it said on Tuesday, as it looks to strengthen its operations in Southeast Texas.

Oklahama-based Chesapeake said each WildHorse shareholder 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 they hold. (Reporting by Laharee Chatterjee in Bengaluru Editing by Sai Sachin Ravikumar)

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