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Calgary-based Enerplus to be acquired by Chord Energy in $3.8B US deal

Enerplus Corp., headquartered in Calgary, has signed a deal to be acquired by U.S. company Chord Energy Corp. in a stock-and-cash deal worth about $3.8 billion US.

Chord Energy chief executive Danny Brown says the deal strengthens the company’s Williston Basin position and represents a compelling opportunity for both companies’ shareholders.

Under the terms of the agreement, Enerplus shareholders will receive 0.10125 shares of Chord common stock and $1.84 US per share in cash for each Enerplus share.

Based on the closing price as of Tuesday, the implied value for each Enerplus share is $18.42 US.

Once the deal is complete, Chord shareholders will own about two-thirds of the combined company, while Enerplus shareholders will own one-third.

The combined company will have an enterprise value of about $11 billion US.

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