Chesapeake Energy to buy WildHorse Resource Development for $4 billion

(Reuters) – Oil and gas producer Chesapeake Energy Corp (CHK.N) is buying smaller firm WildHorse Resource Development Corp (WRD.N) in a deal valued at nearly $4 billion, it said on Tuesday, as it looks to strengthen its operations in Southeast Texas.

Oklahama-based Chesapeake said each WildHorse shareholder will get either 5.989 shares of Chesapeake common stock, or a combination of 5.336 shares of Chesapeake stock and $3 in cash, for each share they hold.