Chevron to buy Noble Energy in a $5 billion all-stock deal.
The offer values Noble at $10.38 a share or 0.1191 Chevron share, a 7.5% premium to Noble's Friday close. The deal would value Noble at roughly $13 billion, including debt.
Noble's assets will expand Chevron's presence in the DJ Basin of Colorado and the Permian Basin across West Texas and New Mexico. They would also add to Chevron's assets in the eastern Mediterranean and West Africa and yield potential annual cost savings of $300 million.
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