KKR’s Independence, Contango Nearing $5.5 Billion Merger
- Combined firm would invest in exploration and production
- Houston-based company would list on New York Stock Exchange
Photographer: Daniel Acker/Bloomberg
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KKR & Co.’s Independence Energy and Contango Oil & Gas Co. are near an agreement to combine in an all-stock deal that could value the new business at about $5.5 billion, including debt.
The aim is to expand the combined firm’s oil and gas footprint, according to people with knowledge of the matter. The new company, which will be based in Houston and operate under a new name and ticker symbol, plans to seek a listing on the New York Stock Exchange, the people said.