Diamondback Energy, Inc. Announces Midland Basin Acquisition
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Diamondback Energy, Inc. (NASDAQ: FANG) has announced a definitive agreement to acquire subsidiaries of Double Eagle IV Midco, LLC for approximately 6.9 million shares of Diamondback stock and $3 billion in cash. The cash will be funded through cash on hand, credit facility borrowings, and/or term loans and senior notes.
February 18, 2025 | 11:15 am
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Diamondback Energy is acquiring subsidiaries of Double Eagle IV Midco, LLC for 6.9 million shares and $3 billion in cash. This acquisition is expected to be funded through cash, credit facilities, and loans.
The acquisition is a significant strategic move for Diamondback Energy, involving a substantial cash outlay and share issuance. This could enhance their asset base and market position, potentially driving stock price up in the short term.
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