Enerplus rises on acquisition deal by Chord Energy

Enerplus

21/02/2024 23:10

** U.S.-listed shares of Canadian energy firm Enerplus
 ERF.TO   ERF.N  jump ~9% to $17.80 in extended trade
    ** Co to be acquired by U.S. oil and gas firm Chord Energy
 CHRD.O  in a cash and stock transaction
    ** Combined company to have an enterprise value of $11 bln
    ** ERF shareholders to receive 0.10125 shares of CHRD common
stock and $1.84 in cash for each share of ERF held at closing
    ** CHRD to issue 20.7 mln shares of its common stock
    ** CHRD shares up 2% at $171.50

 (Reporting by Vallari Srivastava)
 ((Srivastava.Vallari@thomsonreuters.com;))