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 story : Diamondback Energy to buy Rattler Midstream in a stock deal valuing Rattler at about .2 billion #FinanceUSA #StockMarketNEWS Rattler Midstream L.P. announced Monday a deal to be acquired by Diamondback

@stockMarketNEWS Tue 17 May, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Diamondback Energy to buy Rattler Midstream in a stock deal valuing Rattler at about .2 billion #FinanceUSA #StockMarketNEWS
Rattler Midstream L.P. announced Monday a deal to be acquired by Diamondback Energy Inc. in an all-stock deal that values Rattler at about .20 billion. Under terms of the deal, Diamondback will provide 0.113 of its shares for each Rattler share outstanding that it doesn't already own. Based on Friday's closing prices, each share of Rattler, which is a midstream energy assets limited partnership formed by Diamondback, at about .08, which represents a 17% premium. Rattler's stock was still inactive in premarket trading while Diamondback's stock was indicated down nearly 3%. "The energy landscape has transformed dramatically since Rattler was taken public in 2019, and we believe this agreement to merge companies is in the best interests of both Diamondback and Rattler stakeholders," said Travis Stice, who is Diamondback's chief executive and a general partner of Rattler. "This merger will allow both companies to benefit from the simplicity and scale of the combined entity going forward." Rattler's stock has rallied 12.9% year to date and Diamondback shares have climbed 23.7%, while the S&P 500 has lost 15.6%.


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