Exxon and Chevron opened the floodgates for oil megadeals and another one looks to be in the pipeline.
The stock-and-cash deal, which would create a leading player in Texas’ Permian basin, would value privately held Endeavor at around $25 billion, The Wall Street Journal reported Sunday, with Diamondback shareholders owning the majority of the combined company. The deal could even be announced as soon as Monday, the report added. Diamondback stock edged 1% higher ahead of the open. Diamondback and Endeavor did not immediately respond to a request for comment early Monday.
Source: News Formal (newsformal.com)
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