M&A · Energy · Natural Gas Transmission
Diamondback Energy, Inc. to acquire Rattler Midstream LP
Announced May 16, 2022 · Closed Aug 24, 2022
Deal value—
Premium17.3%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Diamondback Energy, Inc. (FANG)
- Target
- Rattler Midstream LP (RTLR)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Aug 24, 2022
Deal protections
Not yet read from the merger agreement.
Advisors
- To the acquirer
- JPMorgan
- To the target
- Evercore
Sector context · Energy
- Comparable deals
- 32 in the prior 24 months
- Premium
- 17.3% vs. 29.9% sector median
- EV / Adj. EBITDA
- Sector median 12.2x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedMay 16, 2022
- ClosedAug 24, 2022