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Actionable news in CWEI: CLAYTON WILLIAMS ENERGY INC,

Noble Energy To Buy Clayton Williams Energy for $2.7 Billion

Noble Energy (NBL) will buy Clayton Williams Energy (CWEI) for about $2.7 billion in a cash-and-stock deal, the companies said in a news release Monday. The deal expands Noble's holdings in the sought-after Permian Basin.

The boards of both companies agreed to the sale Monday, which gives Clayton Williams shareholders 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held under terms of the deal, according to the release.

The value of the transaction, based on Noble Energy's closing stock price as of January 13, is approximately $139 per Clayton Williams Energy share. Including the assumption of about $500 million in net debt, the deal values Clayton Williams at $3.2 billion.

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This represents a 34% premium to Midland, Texas-based Clayton Williams Energy's January 13...


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