Devon Energy, Coterra Energy Reportedly Hold Merger Talks

According to a report from Bloomberg, an all-stock deal is one of the options being considered in the merger talks between the companies.

American shale producers Devon Energy Corp. (DVN) and Coterra Energy Inc. (CTRA) are reportedly considering a merger deal that could create one of the largest U.S. shale producers.

According to a report from Bloomberg on Thursday that cited people familiar with the matter, the companies are engaged in discussion about a potential merger, with an all-stock deal being one of the options being considered.

The terms and structure of the deal are still being negotiated with no certainty that the talks will result in an agreement, as per the report. Coterra has also explored merger talks with at least one other company in the recent past and other suitors for the deal could also emerge, as per the people cited in the report.

Shares of DVN declined over 2% on Thursday while shares of CTRA climbed over 3% at the time of writing.

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