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Talos-Stone Union Creates $2.5B Offshore Driller

Law360, New York (November 21, 2017, 3:23 PM EST) -- Talos Energy LLC and Stone Energy Corp., which emerged from bankruptcy earlier this year, on Tuesday said they will merge in an all-stock deal that will create an offshore drilling company with an enterprise value of $2.5 billion and an initial market capitalization of $1.9 billion.

Under the terms of the deal, Talos shareholders will own 63 percent of the shares in the new company and Stone shareholders will own the remaining 37 percent. The new company, which will be known as Talos Energy Inc., will...
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