THE US's PDC Energy is set to acquire rival SRC Energy in a $1.7 billion all-stock merger that will make the combined company the second-largest player in the state's prolific DJ basin, writes Caroline Evans. Under the planned deal, Denver-based PDC will acquire SRC through an exchange of 0.158 of its shares for each of the latter's shares, giving an implied value of $3.99 per share based on PDC's closing price on 23 August.
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