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Benzinga
Benzinga
Business
Akanksha Bakshi

Crescent Energy To Absorb Vital In $3.1 Billion All-Stock Transaction

Crescent Vital Eagle Ford Oil Permian
Merger,And,Acquisition,Business,Corporate,Cooperation,Company,Concept.,Ma,Partnership

Crescent Energy Co. (NYSE:CRGY) will acquire Vital Energy Inc. (NYSE:VTLE) in an all-stock merger valued at about $3.1 billion, including debt, the companies said Monday. The deal will create one of the 10 largest independent U.S. oil and gas producers with operations across the Eagle Ford, Permian, and Uinta basins.

Vital shareholders will receive 1.9062 Crescent shares for each share, representing a 15% premium to Vital’s 30-day average price as of Aug. 22. Both boards approved the deal, which is expected to close by the end of 2025.

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