Oil and gas producer Parsley Energy Inc said on Monday it would buy Jagged Peak Energy Inc in an all-stock deal valued at about $1.62 billion.
Jagged Peak shareholders will receive 0.447 shares of Parsley Class A common stock for each share held, the company said.
The offer translates to $7.59 per Jagged Peak share based on Parsley stock's closing price on Friday.
Reporting by Arundhati Sarkar
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