March 28, 2018 / 10:12 AM / 8 months ago

Oil producer Concho to buy rival RSP Permian for about $8 bln

March 28 (Reuters) - Oil and gas producer Concho Resources Inc on Wednesday said it would buy smaller rival RSP Permian Inc for an equity value of about $8 billion.

Under the all-stock deal, RSP shareholders will get 0.320 of Concho shares for each stock held, or $50.24 per share - a premium of nearly 29 percent to RSP's close on Tuesday.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Bernard Orr

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