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Chevron to buy PDC Energy in an all-stock deal valued at $6.3 billion, at premium of nearly 11%

Por: MarketWatch Politics May 22, 2023

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Under the terms of the deal, PDC shareholders will receive 0.4638 Chevron shares for each PDC share they own. Based on Friday’s closing price for Chevron’s stock of $155.23, the deal valued PDC shares at $72 each, a 10.6% premium to PDC’s Friday closing price of $65.12. “PDC’s attractive and complementary assets strengthen Chevron’s position in key U.S. production basins,” said Chevron Chief Executive Officer Mike Wirth. The deal... + full article



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