Devon Agrees to Buy Oil Rival Coterra for $21.4 Billion in Stock

(Bloomberg) — Devon Energy Corp. (DVN) agreed to acquire rival shale driller Coterra Energy Inc. (CTRA) for about $21.4 billion in stock, one of the largest oil and natural gas deals in years. The deal calls for Coterra stockholders to receive 0.7 Devon shares for each share they own, according to a statement Monday. The company will keep the Devon name, and Devon Chief Executive Officer Clay Gaspar will remain as CEO after the deal closes. Most Read from Bloomberg Bloomberg News first reported the tal ...