"Texas Oil Giant Diamondback Energy Acquires Endeavor in $26 Billion Deal"
Originally Published 1 year ago — by Investor's Business Daily
Diamondback Energy has agreed to acquire Endeavor Energy Resources for $26 billion, creating a new Permian Shale giant and sparking a surge in FANG stock. The deal involves a combination of cash and stock, with existing Diamondback holders set to own 60.5% of the combined company. This acquisition follows a series of major energy deals, including Exxon Mobil's purchase of Pioneer Natural Resources and Chevron's acquisition of Hess. Diamondback Energy stock jumped 10% following the announcement.