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Cimarex to buy Resolute Energy in $1.6bn cash and stock deal

Nov 20, 2018 - Marketline Newswire

US oil and gas exploration and production firm Cimarex has signed a $1.6bn agreement to acquire Resolute Energy to enhance its presence in the Permian Basin.

According to the cash-and-stock deal, Resolute Energy shareholders will receive 0.3943 shares of Cimarex common stock, $35 a share in cash, or a combination of $14 a share in cash and a 0.2366 share of common stock.Including the assumption of Resolute's $710m long-term debt, the transaction is expected to expand Cimarex's footprint in...