Range Resources to Buy Memorial Resource in $4.4 Bln Deal – Fortune

Range Resources Corp said on Monday it would buy fellow oil and gas producer Memorial Resource Development Corp for $3.3 billion plus assumption of $1.1 billion in debt to expand in the Appalachian and U.S. Gulf Coast regions.Memorial Resource Development’s shareholders will receive 0.375 of a Range Resources share for each share they hold, the companies said.The all-stock deal is valued at $15.75 per share, a 17 percent premium to Memorial Resource Development’s Friday close.About 95 percent of Range Resources’ production comes from its Appalachian operations.

Source: Range Resources to Buy Memorial Resource in $4.4 Bln Deal – Fortune

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