"Chesapeake Energy and Southwestern Energy Merge in $7.4 Billion Deal to Boost U.S. Gas Production"

Chesapeake Energy Corporation and Southwestern Energy Company have agreed to merge in an all-stock transaction valued at $7.4 billion, creating a premier energy company with a leading natural gas portfolio. The combined company aims to deliver affordable, lower carbon energy to meet growing domestic and international demand, with operational and overhead synergies of approximately $400 million and a focus on sustainability leadership. The transaction is expected to be accretive to all key financial metrics and is targeted to close in the second quarter of 2024, subject to customary closing conditions and regulatory clearances.