Chevron Agrees to Acquire Noble Energy
Chevron (NYSE: CVX) has agreed to acquire Noble Energy (NASDAQ: NBL) in an all-stock deal. The oil giant is paying $5 billion in stock for Noble and assuming all its debt, which pushes the total transaction value to $13 billion.
Noble Energy investors will receive 0.1191 shares of Chevron for each share they currently hold, valuing them at $10.38 each. That implies a 12% premium to the 10-day average closing price.
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Source Fool.com