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International Business Times
International Business Times
Business
AFP News

APA To Acquire Callon Petroleum In $4.5 Bn Deal

APA Callon Callon Petroleum Petroleum APA Corporation United States
APA Corporation has agreed to buy Callon Petroleum Company in a deal valued around $4.5 billion (Credit: AFP)

US energy company APA Corporation has agreed to buy competitor Callon Petroleum in a transaction valued around $4.5 billion including debt, the firms announced Thursday, marking the latest deal in the sector.

APA will acquire Callon in an all-stock deal, where each share of Callon is exchanged for 1.0425 shares of APA stock, worth $38.31.

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