Noble To Absorb Rosetta In Deal For Permian, Eagle Ford

摘要

Noble Energy Inc. (NBL) has a new core play—Texas. In a deal with Rosetta Resources Inc. (ROSE), Noble said May 11 the two companies will merge in a $3.9 billion, all-stock deal that opens up the fertile oil fields of the Eagle Ford and Permian Basin. Noble’s deal pays $2.1 billion for Rosetta and assumes the company’s net debt of $1.8 billion. Rosetta shareholders will receive 0.542 shares of Noble common stock for each share of Rosetta common stock held. That translates into Rosetta stockholders receiving $26.62 a share, a 38% premium to Rosetta’s closing price on May 9.