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Actionable news in MRD: MEMORIAL RESOURCE DEVELOPMENT Corp,

Memorial Resource (MRD) Stock Spikes, Range Resources to Acquire

NEW YORK (TheStreet) -- Shares of Memorial Resource Development (MRD) are jumping 6.77% to $14.36 on heavy trading volume early Monday afternoon as Range Resources (RRC) agreed to buy the company in a deal worth about $3.3 billion, excluding debt.

The agreement includes the assumption of $1.1 billion of debt owned by Memorial.

The all-stock deal is valued at $15.75 per share, which represents a 17% premium to Memorial's closing price on Friday.

"This acquisition will give Range strategic positioning in both the Appalachian and Gulf Coast regions, providing greater...


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